Everything starts here. Before you trade a single pip, you need to understand how the forex market works, what moves prices, and how to use a trading platform.
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What is Forex Trading?
The foreign exchange (forex) market is where currencies are bought and sold. It is the largest financial market in the world with over $7.5 trillion traded daily. Unlike stocks, forex trades 24 hours a day, 5 days a week across different global sessions.
Trading Sessions
Sydney Session (10 PM – 7 AM GMT): Low volatility, AUD/NZD pairs most active
Tokyo Session (12 AM – 9 AM GMT): JPY pairs most active, moderate volatility
London Session (8 AM – 5 PM GMT): Highest volume session, all major pairs
New York Session (1 PM – 10 PM GMT): USD pairs most active, overlaps with London
Best time to trade: London/NY overlap (1 PM – 5 PM GMT) = highest liquidity
Pips, Lots & Leverage
Pro Tip: Start with 0.01 lots (micro lots) while learning. Never use high leverage until you understand risk management completely.
MT4/MT5 Platform Basics
Download MetaTrader 4 or 5 from your broker website
Login with your account credentials (server, login, password)
Chart window: right-click to change timeframe and chart type
Place a trade: File > New Order > select pair, lot size, entry type
Stop Loss (SL): price at which your trade closes for a loss
Take Profit (TP): price at which your trade closes for a profit
Use the Strategy Tester to practice on historical data