Forex trading

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Forex Trading

Forex trading, or foreign exchange trading, involves the buying and selling of currency pairs in the global market to make a profit. It is one of the most liquid and high-volume markets in the world, open 24 hours a day, five days a week.

Key points to understand:

• Currency Pairs: Forex is traded in pairs like EUR/USD or GBP/JPY.
• Bid & Ask: Bid is the price to sell; Ask is the price to buy. The difference is called the spread.
• Pips: A pip is the smallest unit of price movement in a currency quote, usually the 4th decimal place.
• Leverage: Allows you to trade large amounts with small capital, e.g. 1:100 leverage.
• Lot Size: Standard (100,000 units), Mini (10,000), and Micro (1,000) lots determine trade volume.
• Orders: Use Market, Limit, Stop Loss, and Take Profit orders to manage trades.
• Trading Sessions: Major sessions include London, New York, Tokyo, and Sydney.
• Analysis: Combine technical (charts, indicators) and fundamental (news, events) analysis for better decisions.

As a beginner, it's important to start with a demo account, manage risk wisely, and keep learning. With time, patience, and the right strategy, Forex trading can become a powerful tool for financial growth.