Overview the foreign exchange market, understanding currency pairs, and key terms and concepts in forex trading.
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Forex, short for foreign exchange, is the global market for trading national currencies against one another. It is the largest financial market in the world, with a daily trading volume exceeding $7 trillion.
Trading strategies provide a systematic approach to forex trading, helping traders make consistent and informed decisions. The choice of strategy depends on factors like time commitment, risk tolerance, and the trader’s personality.
Candlestick patterns are essential tools for forex traders, offering a visual representation of price action over a specific period. Each candlestick shows four key data points: the open, high, low, and close prices. The body of the candlestick indicates the range between the open and close, while the wicks (or shadows) represent the highest and lowest prices during that period.
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