Starting Forex Trading
To begin forex trading, you should start with comprehensive education, practice with a demo account, and develop a structured trading plan before committing real capital. Successful trading requires discipline, continuous learning, and robust risk management to navigate market volatility. Understanding the forex market The foreign exchange (forex) market is a decentralized, over-the-counter (OTC) market where global currencies are bought and sold. It is the largest and most liquid financial market in the world, with trillions of dollars traded daily. This continuous operation means currencies are traded 24 hours a day, five days a week. How forex trading works When you trade forex, you are speculating on the value of one currency against another. Currencies are always traded in pairs, such as EUR/USD. The first currency is the "base currency," and the second is the "quote currency". Going long (buying): You buy a currency pair if you believe the bas...