I've only been trading the FOREX a few months, and have been doing rather well. I've traded stocks, stock index futures, and options for about 15 years, but got tired of the meaningless volatility with no direction. 15 years later I am teaching seminars about this way of trading that is a gold mine. Lets make this money together.
The Forex is much simpler than the stock market, and easier to track. There are only six major currency pairs: Euro, British Pound, Swissy, Australian Dollar, Canadian Dollar, and the Yen. With the six major currencies, you will never have liquidity problems, and the spreads are good to reasonable (Currencies are always traded in pairs - EUR/USD, USD/CAD, etc.). And liquidity, well, the stock market trades several hundred million dollars a day, but the Forex trades several trillion dollars a day. Some invividual or institution with a few billion dollars is not going to come in and push this market.
You can certainly trade the Chinese Yuan against the Algerian dinar, but the spread is going to be huge, the currency manipulated, and it might take a long time to move. And the liquidity will be horrible, so you can't use market orders and you won't get your price.
Like most of you, I thought you had to know a lot about the fundamentals of each of the foreign countries, and there are so many countries. But I've just reduced this list down to six majors, and the activities of these six are well known. Like the U.S., they each publish a CPI, and GDP, and Unemployment Rates, and are regularly updating the markets on the biggest influence: interest rates. I've always prided myself as a pure Technical Analyst. Fundamentals are for geeks and goobers; only price matters.
The currencies trend better than any other investment vehicle, and much better than the constant whipsaws in the stock market., so many systems work here that will not work elsewhere. If you can trade the stock market, you can trade the Forex. There is money out there and it is up to you to grab it, if you want to change your life, then start here http://www.easy-forex.com/Gateway.aspx?gid=18712