As for now we don't have a good definition for Forex.
Let me remind everybody the Wiki definition:
'The foreign exchange market (forex, FX, or currency market) is a global decentralized market for the trading of currencies'.
But everybody knows what he does when trading on Forex, he trades or can trade not only currencies, but also, say, stocks and metals in addition, right?
So, the definition is not right, meaning it doesn't match everyday life of Forex traders (or anybody considering himself a Forex trader, no matter a newbie or experienced one).
There are other questions for the authors of this definition.
P.S.
I have found only one place discussing this matter, but cannot fully understand the text and looking for partners to discuss this matter.
Could please somebody help me in understanding this text?
http://www.liteforex.com/tutorial/margin-trading/
"...Financial markets are an economic system where its participants trade in specific goods - financial instruments...
In the most general sense, financial instruments are certain obligations (contracts)...
common (usual) goods and raw materials are also sold at the financial markets. On the basis of it the financial markets may be divided into foreign exchange markets, stock markets and raw materials markets...
In our course we will pay general attention to foreign exchange market Forex..."
I.e. Forex is a part (division) of a system of 'financial markets' ('economic system' with 'financial instruments'), it is OK.
But, financial instrument is a 'contract' and at the same time currencies, stocks and raw materials, right?
Contract = raw materials?
How could it be?
Let me remind everybody the Wiki definition:
'The foreign exchange market (forex, FX, or currency market) is a global decentralized market for the trading of currencies'.
But everybody knows what he does when trading on Forex, he trades or can trade not only currencies, but also, say, stocks and metals in addition, right?
So, the definition is not right, meaning it doesn't match everyday life of Forex traders (or anybody considering himself a Forex trader, no matter a newbie or experienced one).
There are other questions for the authors of this definition.
P.S.
I have found only one place discussing this matter, but cannot fully understand the text and looking for partners to discuss this matter.
Could please somebody help me in understanding this text?
http://www.liteforex.com/tutorial/margin-trading/
"...Financial markets are an economic system where its participants trade in specific goods - financial instruments...
In the most general sense, financial instruments are certain obligations (contracts)...
common (usual) goods and raw materials are also sold at the financial markets. On the basis of it the financial markets may be divided into foreign exchange markets, stock markets and raw materials markets...
In our course we will pay general attention to foreign exchange market Forex..."
I.e. Forex is a part (division) of a system of 'financial markets' ('economic system' with 'financial instruments'), it is OK.
But, financial instrument is a 'contract' and at the same time currencies, stocks and raw materials, right?
Contract = raw materials?
How could it be?