Trading Forex is lucrative, but you need a plan to figure out this market. This forex guide will teach you practical advice to succeed in the forex market by learning the strategies, tools, and risk management techniques.
The foreign exchange market, known as FOREX, is the largest global financial market for trading currencies 24 hours a day. Every trade means exchanging one currency for another. If you trade the USD/NGN pair, USD is called the base currency, and NGN is called the quote currency.
Currencies have prices that change depending on economic data, interest rates, geopolitical events, market sentiment, and other factors. Take the case of Nigeria: inflation makes NGN fall against USD. Economic calendars and trading platforms offer data in real time to help you make decisions.
