Currency pairs are categorized into major, minor, and exotic pairs. Major pairs involve the most traded currencies like USD and EUR, while exotic pairs include less commonly traded currencies paired with major ones, offering unique opportunities
The Forex market is highly liquid, with trillions of dollars traded daily
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Risk management is vital in Forex trading to protect capital from unforeseen market fluctuations. Techniques like setting stop-loss orders and diversifying trades help traders minimize losses while maximizing potential gains
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