- Forex (Foreign Exchange) is the global market for trading currencies.
- Currencies are traded in pairs (e.g., EUR/USD), and traders try to profit by predicting whether one currency will go up or down.
- Open 24/5, it’s the largest and most liquid market in the world.
🧠 2. Trading Strategies: Plans for Success
- Scalping: Quick trades for small profits in minutes.
- Day Trading: Open and close trades within a single day.
- Swing Trading: Hold trades for days or weeks based on trends.
- Position Trading: Long-term strategy based on big market movements.
📊 3. Technical & Fundamental Analysis: Two Ways to Predict the Market
- Technical Analysis: Using charts, patterns, and indicators to predict future prices.
- Fundamental Analysis: Examining news, economic reports, and global events to understand market direction.
- Think of it like weather forecasting — technical looks at past patterns, fundamental looks at the big-picture conditions.
📚 4. Glossary of Terms: Forex Jargon Made Simple
- Pip: The smallest price change in currency pairs.
- Leverage: Borrowed funds to trade larger amounts.
- Spread: The difference between the buy and sell price.
- Lot: The standard unit size for forex trades.
