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Forex trading operates by trading currency pairs, such as EUR/USD. You simultaneously buy one currency and sell another, aiming to profit from fluctuations in exchange rates.

Currency pairs consist of two currencies: the base currency and the quote currency. For example, in the pair EUR/USD, EUR is the base currency, and USD is the quote currency.

Major currency pairs include
EUR/USD (Euro/US Dollar), GBP/USD (British Pound/US Dollar),USD/JPY (US Dollar/Japanese Yen),USD/CHF (US Dollar/Swiss Franc) AUD/USD (Australian Dollar/US Dollar),USD/CAD (US Dollar/Canadian Dollar)

Leverage allows traders to control larger positions with a smaller capital amount. For example, a 100:1 leverage ratio means you can control a $100,000 position with $1,000. Leverage can amplify both profits and losses.

Spreads are the difference between the bid price (selling price) and the ask price (buying price) of a currency pair. Spreads represent the cost of trading and can vary based on market conditions and currency pairs.

Currency prices are influenced by
Economic indicators (e.g., GDP, employment data, inflation) Interest rates Political events and stability Market sentiment and speculation Natural disasters and global events

Useful tools and resources:
Technical analysis tools (charts, indicators) Fundamental analysis (economic news, reports) Risk management tools (stop-loss orders, position sizing calculators)

You need a broker to execute trades on the forex market. Brokers provide access to trading platforms, market data, and leverage.

A forex trading strategy is a systematic approach to trading, defining rules for entering and exiting trades, managing risk, and determining position sizes. Common strategies include trend following, range trading, and breakout trading.

A pip (percentage in point) is the smallest price movement in a currency pair, typically to the fourth decimal place (0.0001). For example, if EUR/USD moves from 1.2000 to 1.2001, it has moved one pip.

A demo account is a practice account provided by brokers that allows you to trade with virtual money. It's a risk-free way to learn forex trading, test strategies, and get familiar with the trading

A funded account in forex trading is an account provided by a trading firm that supplies you with capital to trade in the forex market. Instead of using your own money, you trade with the firm's funds.

The firm sets specific criteria and objectives, such as achieving a certain profit target or adhering to risk management rules. If the trader meets these criteria, they move on to receive real trading capital from the firm, allowing them to trade with a funded account and share in the profits.