Spot Trading

In contrast to futures trading which guarantees a transaction for future delivery, spot trading involves cash sales of any commodity for immediate delivery. Spot currency trading is normally T + 2 days (trading day plus 2 additional days) with the exception of the American and Canadian dollar which is only T + 1. Trade in commodities using spot trading is essentially the same except in futures trading, delivery is sometime into the future but prices are fixed and agreed today. This is in contrast to forward trading which is slightly different from futures trading.

Spot Trading

The largest trades done using spot trading is the currency market. All trade able major currencies are bought and sold daily with total volume ranging from a low of US$2.5 trillion upwards to US$3.00 trillion. For novices, try free practice trade with a bit of tutorials thrown in. Just like any trade, currency spot trading can be done using margins (using only a down payment) but be sure to understand the whole concept. Additionally, do not trade more than what you can afford to lose or amounts that materially affect your physical, mental or emotional well-being!

http://forextradingtutorial.wordpress.com/2008/06/02/forex-trading-tutorial-examples/
This is another website for good articles on spot trading in currencies. Traders in currencies can be classified usually as professional traders (inter-bank traders) or personal traders (individuals trading for their own accounts or “day traders”).

http://ezinearticles.com/?Forex-Spot-Trading-A-Simple-Guide!&id=1235597
Below is a daily chart movement of US dollar vs. Japanese yen. Fluctuations are monitored closely for signs of any trends. Some watch for macroeconomic signs.

But small consistent gains are better than erratic huge wins and bigger losses!