Forex Trading

  1. Core Concepts and Terminology
    1. Currency Pair Structure
      1. Base Currency Definition
        1. Quote Currency Definition
          1. Currency Pair Notation
            1. Reading Currency Quotes
              1. Major Currency Pairs
                1. EUR/USD
                  1. GBP/USD
                    1. USD/JPY
                      1. USD/CHF
                        1. AUD/USD
                          1. USD/CAD
                            1. NZD/USD
                            2. Minor Currency Pairs
                              1. Cross Currency Pairs
                                1. EUR/GBP
                                  1. EUR/JPY
                                    1. GBP/JPY
                                      1. Other Minor Pairs
                                      2. Exotic Currency Pairs
                                        1. Emerging Market Currencies
                                          1. Low Liquidity Characteristics
                                            1. Higher Spread Costs
                                              1. Volatility Considerations
                                            2. Exchange Rate Mechanics
                                              1. Direct Quote System
                                                1. Indirect Quote System
                                                  1. Bid Price Definition
                                                    1. Ask Price Definition
                                                      1. Bid-Ask Spread
                                                        1. Spread Calculation
                                                          1. Factors Affecting Spreads
                                                            1. Spread Comparison
                                                            2. Pips and Pipettes
                                                              1. Pip Definition
                                                                1. Pipette Definition
                                                                  1. Pip Value Calculation
                                                                    1. Currency-Specific Pip Values
                                                                  2. Position Sizing and Lot Units
                                                                    1. Standard Lot
                                                                      1. 100,000 Base Currency Units
                                                                        1. Standard Lot Applications
                                                                        2. Mini Lot
                                                                          1. 10,000 Base Currency Units
                                                                            1. Mini Lot Benefits
                                                                            2. Micro Lot
                                                                              1. 1,000 Base Currency Units
                                                                                1. Micro Lot Usage
                                                                                2. Nano Lot
                                                                                  1. 100 Base Currency Units
                                                                                    1. Nano Lot Advantages
                                                                                    2. Position Size Calculation
                                                                                      1. Risk-Based Sizing
                                                                                        1. Account Balance Considerations
                                                                                          1. Volatility Adjustments
                                                                                        2. Leverage and Margin Concepts
                                                                                          1. Leverage Definition
                                                                                            1. Leverage Ratios
                                                                                              1. 1:50 Leverage
                                                                                                1. 1:100 Leverage
                                                                                                  1. 1:200 Leverage
                                                                                                    1. 1:500 Leverage
                                                                                                    2. Margin Requirements
                                                                                                      1. Initial Margin
                                                                                                        1. Maintenance Margin
                                                                                                          1. Margin Calculation
                                                                                                          2. Free Margin
                                                                                                            1. Used Margin
                                                                                                              1. Margin Level
                                                                                                                1. Margin Call Triggers
                                                                                                                  1. Stop Out Level
                                                                                                                    1. Leverage Risk Management
                                                                                                                      1. Overleveraging Dangers
                                                                                                                        1. Conservative Leverage Use
                                                                                                                          1. Risk Control Measures
                                                                                                                        2. Trading Position Types
                                                                                                                          1. Long Positions
                                                                                                                            1. Buying Currency Pairs
                                                                                                                              1. Profit Scenarios
                                                                                                                                1. Loss Scenarios
                                                                                                                                2. Short Positions
                                                                                                                                  1. Selling Currency Pairs
                                                                                                                                    1. Profit Scenarios
                                                                                                                                      1. Loss Scenarios
                                                                                                                                      2. Position Closing
                                                                                                                                        1. Manual Position Closure
                                                                                                                                          1. Automatic Position Closure
                                                                                                                                            1. Partial Position Closure

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                                                                                                                                        1. Introduction to the Forex Market

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                                                                                                                                        3. Forex Market Structure and Participants