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  • How Big Banks Manipulate You

  • Money Management

  • Trading Psychology

  • Concept of Premium and Discount Using Fibonacci

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Frequently Asked Questions

Common Questions About Forex Trading

What is Forex trading?

Forex trading is the buying and selling of currencies on the foreign exchange market, with the aim of making a profit.

How do I start Forex trading?

To start Forex trading, open a trading account with a reputable broker, fund it (I will recommend Exness - the link is on the website they are reputable, fast and reliable), then begin trading with a solid understanding of the markets.

What is leverage in Forex?

Leverage in Forex allows traders to control larger positions with a smaller amount of capital, amplifying potential gains and losses.

What are the major currency pairs?

The major currency pairs are:
- EUR/USD (Euro vs. US Dollar)
- USD/JPY (US Dollar vs. Japanese Yen)
- GBP/USD (British Pound vs. US Dollar)
- USD/CHF (US Dollar vs. Swiss Franc)
- AUD/USD (Australian Dollar vs. US Dollar)

What is a pip?

A pip (percentage in point) is the smallest unit of price movement in Forex trading, usually equivalent to 0.0001.

What is the difference between a long and short position?

A long position involves buying a currency pair, expecting the price to rise, while a short position involves selling, expecting the price to fall.

How do economic indicators affect Forex trading?

Economic indicators, such as GDP, inflation, and interest rates, can impact currency values and trading decisions.

What is a stop-loss order?

A stop-loss order is an instruction to close a trade at a specific price, limiting potential losses if the market moves against the trader.

What is the role of a Forex broker?

A Forex broker acts as an intermediary between traders and the foreign exchange market, providing trading platforms, leverage, and market access.

How can I manage risk in Forex trading?

To manage risk, traders can use strategies such as position sizing, stop-loss orders, and risk-reward ratios, as well as staying informed about market conditions.

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