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Forex Education πŸ“š πŸ“–

Major Currency Pairs

Start with the most liquid and stable pairs:

β€’ EUR/USD (Euro vs. US Dollar)

β€’ GBP/USD (British Pound vs. US Dollar)

β€’ USD/JPY (US Dollar vs. Japanese Yen)

3. Key Terms to Know

β€’ Pip: The smallest price movement (e.g., 0.0001 for most pairs).

β€’ Lot: Trade size. A standard lot = 100,000 units of currency.

β€’ Leverage: Lets you control large positions with small capital (e.g., 1:100). High risk!

Spread: Difference between the buy (ask) and sell (bid) price.
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πŸ“šMarket Hours

Forex operates 24/5 (Monday to Friday).

Key trading sessions:

β€’ London (8 AM-5 PM GMT)

β€’ New York (1 PM-10 PM GMT)

β€’ Tokyo (12 AM-9 AM GMT)

πŸ“šRisk Management

β€’ Stop Loss: Automatically closes trades at a predefined loss level.

β€’ Risk-Reward Ratio: Aim for 1:2 or 1:3 (e.g., risk 50togain 100).

β€’ Never risk more than 1-2% of your capital per trade.
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πŸ“šTechnical Analysis: Use charts, candlesticks, and indicators (e.g., RSI, Moving Averages).

πŸ“šFundamental Analysis: Follow economic

β€’ news (interest rates, GDP, employment data).

πŸ“š Psychology Matters

Stay Disciplined: Avoid greed and fear. Stick to your trading plan.

β€’ Keep a Trading Journal: Track your trades and learn from mistakes...
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