I need to let loose a rant here – and offer some advice.
Can someone please tell me what “the forex” is? Anyone? I’m dying to know where the heck that phrase comes from. It certainly isn’t industry parlance.
FOREX is the abbreviation for “foreign exchange”. Thus, when someone says “the forex” they are saying “the foreign exchange”. When that article is put in there it changes the whole meaning.
The phrase “the forex” is either the first part of “the foreign exchange market” or means the exchange which is foreign. I’m guessing very few who use the phrase “the forex” are referring to the latter, implying that they are leaving out “market” in what they’re talking about.
When one talks about trading markets it’s “I trade stocks”, “I trade oil”, “I trade commodities”. People might say “I trade the stock market” or “I trade the commodity market”, but no one says “I trade the stocks” or “I trade the oil”. A forex trader will say “I trade forex” or “I trade the forex market”.
Do your credibility a favor and drop the “the” when you talk about forex, especially if it’s with a professional or long experienced market participant. Otherwise, they’re going probably to either look at you strangely or think your some know-nothing hack.
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About the Author
John Forman, author of this blog, has traded for more than 20 years, is a professional market analyst, and authored The Essentials of Trading. He is an active participant in trading forums, consults for trading related businesses, as published literally dozens of trading articles, and has been quoted in a number of books and in the media.
** See John’s full bio.
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