Forex Trading for Beginners

What is Forex Trading?

Forex (foreign exchange) trading involves buying and selling currencies to profit from exchange rate fluctuations. It's the largest financial market globally, with over $6 trillion traded daily.

Major Currency Pairs

Trading Strategies

1. Day Trading: Open and close positions within the same day
2. Swing Trading: Hold positions for days or weeks to capture trends
3. Scalping: Make multiple small profits from minor price changes
4. Position Trading: Long-term strategy based on fundamental analysis

Risk Management

• Never risk more than 2% of your capital on a single trade
• Use stop-loss orders to limit potential losses
• Understand leverage - it amplifies both gains and losses
• Keep a trading journal to track performance
• Stay updated with economic news and central bank policies