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a poster with information on how to use the lulu gap
Prompt
To help you understand the forex market and guide you on the basics, including how to calculate lot sizes, base pairs, and other crucial concepts, here's a detailed breakdown:---1. What is Forex Trading?Forex (Foreign Exchange): It is the global marketplace where currencies are traded. It operates 24/5.Currency Pairs: Forex trading involves buying one currency while simultaneously selling another, represented as pairs like EUR/USD, GBP/JPY, etc.Base Currency: The first currency in the pair (e.g., EUR in EUR/USD).Quote Currency: The second currency (e.g., USD in EUR/USD).The exchange rate shows how much of the quote currency is needed to buy one unit of the base currency.---2. Key Terminologies1. Pip (Percentage in Point): The smallest price movement in a currency pair.E.g., If EUR/USD moves from 1.1000 to 1.1001, it moves 1 pip.For pairs like USD/JPY, the pip is the second decimal (e.g., 110.00 to 110.01 = 1 pip).2. Lot Sizes:Standard Lot: 100,000 units of the base currency.Mini Lot: 10,000 units.Micro Lot: 1
INFO
Type
Text-to-videoWj
Date Created
November 23,2024Wj
Dimensions
1280×768pxWj
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