Forex Trading: From Basics to Advanced – Complete Guide
YM💗 Introductio Forex trading, also known as foreign exchange trading, is the act of buying and selling currencies to profit from changes in their value. It is the largest financial market in the world , with over $7 trillion traded daily . Whether you’re a beginner or an experienced trader, understanding Forex deeply can help you trade more confidently and profitabl y. 1️⃣ Forex Trading Basics What is Forex? Forex is short for "Foreign Exchange." It involves trading currency pairs, like EUR/USD, GBP/USD, USD/JPY , etc. Base currency: The first currency in a pair (e.g., EUR in EUR/USD). Quote currency: The second currency in a pair (e.g., USD in EUR/USD). How Forex Trading Works Forex is traded over-the-counter (OTC) , meaning there’s no central exchange. Trades occur through brokers using platforms like MT4, MT5, or TradingView . Major, Minor, and Exotic Pairs Major pairs: Most traded (EUR/USD, USD/JPY, GBP/USD). Minor pairs: Less traded but still pop...