What You'll Learn
- •The Definition of Forex: Understanding the concept of exchanging one currency for another.
- •Real-World Examples: How exchange rates work using the USD to Peso scenario.
- •Currency Pairs: A look at the EUR/USD, the most commonly traded pair in the market.
- •Trading Mechanics: What a Standard Lot (100,000 units) is and how to calculate the capital required for a trade.
- •Calculating Profit: How a movement of just 10 pips can result in a $100 profit (or loss).
- •Risk Management: Why studying technical analysis and fundamental analysis is vital to prevent losing money.