The Forex spot market is comprised of a commodities or securities market of goods both non perishable and perishable, that are sold on a cash basis and are to be delivered on a short time frame. These goods are bought at the prices set by the spot market and but differ from the prices at delivery. One of these commodities is crude oil it sells at the market price and is delivered later. Examples of commodities are,grains beef,gold,silver,oil and natural gas. There are seven currencies that trade on the Forex
USD,GBP,CHF,CAD,AUD,JPY and EUR.
Most traders that trade on the Forex spot market are not usually in a trade more than a day depending upon the variations in price of the currencies. Price variations are effected by different things usually unexpected events like news,government issued reports or even rumors Most of the time the expectation of an event can drive the market as much as the event itself.These are what is called spot conditions. Traders normally trade using a personal or leveraged account. The personal account is most widely used and use their Forex broker to trade the spot market. Some personal account traders do trade positions for more than a day which is not really spot trading since the trade becomes an "open" trade. Most personal account traders day trade the Forex spot market but there are different ways to trade this market.