Forex Basics
Build a strong foundation in Forex and commodity markets by understanding how the markets work, who participates, when they trade, how prices move, and the essential concepts every trader must know before progressing to advanced analysis and strategies.
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WHAT IS FOREX TRADING
What Is Forex?
Currency & Currency Pairs
Buying & Selling Currencies
How Forex Prices Are Quoted
How Big Is the Forex Market?
Who Trades Forex?
Why Does Forex Move?
The Role of the U.S. Dollar
Forex Market Structure
Forex vs Currency Exchange
What Is Forex?
Currency & Currency Pairs
Buying & Selling Currencies
How Forex Prices Are Quoted
How Big Is the Forex Market?
Who Trades Forex?
Why Does Forex Move?
The Role of the U.S. Dollar
Forex Market Structure
Forex vs Currency Exchange
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WHAT IS COMMODITY TRADING ?
What Are Commodities?
Major Commodity Categories
Why Are Commodities Traded?
Who Trades Commodities?
Major Global Commodities
Physical vs Financial Commodity Trading
Futures & Commodity Markets
What Moves Commodity Prices?
Understanding Gold
Understanding Oil
Understanding Industrial & Agricultural Commodities
What Are Commodities?
Major Commodity Categories
Why Are Commodities Traded?
Who Trades Commodities?
Major Global Commodities
Physical vs Financial Commodity Trading
Futures & Commodity Markets
What Moves Commodity Prices?
Understanding Gold
Understanding Oil
Understanding Industrial & Agricultural Commodities
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RELATION BETWEEN FOREX AND COMMODITY MARKET .
Why Forex & Commodities Are Connected
The U.S. Dollar & Commodities
Gold & the U.S. Dollar
Oil & Currency Markets
Commodity Currencies
Interest Rates → USD → Commodities
Risk-On & Risk-Off
Inflation & Commodities
Global Growth & Commodity Demand
Intermarket Relationships
Why Forex & Commodities Are Connected
The U.S. Dollar & Commodities
Gold & the U.S. Dollar
Oil & Currency Markets
Commodity Currencies
Interest Rates → USD → Commodities
Risk-On & Risk-Off
Inflation & Commodities
Global Growth & Commodity Demand
Intermarket Relationships
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ESSENTIAL TERMINOLOGY .
Core Financial-Market Terms
Forex Terminology
Commodity Terminology
Price & Market Terminology
Trading Direction Terminology
Risk & Position Terminology
Institutional & Market-Participant Terminology
Economic Terminology
Core Financial-Market Terms
Forex Terminology
Commodity Terminology
Price & Market Terminology
Trading Direction Terminology
Risk & Position Terminology
Institutional & Market-Participant Terminology
Economic Terminology
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WHO TRADE FOREX AND COMMODITIES ?
Forex Market Structure
Commodity Market Structure
Major Forex Market Players
Central Banks
Banks & Institutional Investors
Corporations & Commercial Participants
Commodity Market Participants
Retail Traders
The Market Participant Ecosystem
Forex Market Structure
Commodity Market Structure
Major Forex Market Players
Central Banks
Banks & Institutional Investors
Corporations & Commercial Participants
Commodity Market Participants
Retail Traders
The Market Participant Ecosystem
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WHY TRADE FOREX AND COMMODITIES ?
Why Do People Participate in Financial Markets?
What's Special About Forex?
What's Special About Commodities?
Why Gold?
Why Oil?
Forex & Commodities vs Stocks
Forex vs Commodities
Advantages & Limitations
The Role of Forex & Commodities in the Global Economy
Why Do People Participate in Financial Markets?
What's Special About Forex?
What's Special About Commodities?
Why Gold?
Why Oil?
Forex & Commodities vs Stocks
Forex vs Commodities
Advantages & Limitations
The Role of Forex & Commodities in the Global Economy
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WHEN CAN YOU TRADE IN FOREX AND COMMODITY MARKET ?
The Global Trading Clock
Forex Trading Sessions
Session Timings
Importance of Different Sessions
Session Overlaps
Commodity Market Hours
How Market Activity Changes Throughout the Week
Seasonality — Weeks, Months & Periods
Market Holidays & Reduced Liquidity
Daylight Saving Time
Economic Events & Market Activity
Understanding Market Calendars
The Global Trading Clock
Forex Trading Sessions
Session Timings
Importance of Different Sessions
Session Overlaps
Commodity Market Hours
How Market Activity Changes Throughout the Week
Seasonality — Weeks, Months & Periods
Market Holidays & Reduced Liquidity
Daylight Saving Time
Economic Events & Market Activity
Understanding Market Calendars
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HOW DO YOU TRADE FOREX AND COMMODITIES ?
How Does a Trader Make Money?
How Forex Profit & Loss Works
How Commodity Profit & Loss Works
Introduction to Market Analysis
Fundamental, Technical & Sentiment Analysis
The Trading Platform
The Broker
From Trader to Global Market
What Actually Moves Price?
From Market Information to Trading Decision
Understanding the Market vs Trading the Market
How Does a Trader Make Money?
How Forex Profit & Loss Works
How Commodity Profit & Loss Works
Introduction to Market Analysis
Fundamental, Technical & Sentiment Analysis
The Trading Platform
The Broker
From Trader to Global Market
What Actually Moves Price?
From Market Information to Trading Decision
Understanding the Market vs Trading the Market
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WHAT IS GOLD TRADING ?
What Is Gold Trading?
Gold as a Commodity & Financial Instrument
Understanding XAU
Understanding XAU/USD
The Troy Ounce
Gold Price Measurement
Spot Gold vs Gold Futures
Gold Price Drivers
How Gold Price Movement Becomes P&L
What Is Gold Trading?
Gold as a Commodity & Financial Instrument
Understanding XAU
Understanding XAU/USD
The Troy Ounce
Gold Price Measurement
Spot Gold vs Gold Futures
Gold Price Drivers
How Gold Price Movement Becomes P&L
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WHAT ARE CURRENCY PAIRS ?
What Is a Currency Pair?
Major Currency Pairs
Minor / Cross Pairs
Exotic Currency Pairs
Currency Pair Notation
Understanding a Currency Pair Price
Direct & Indirect Quotations
Reciprocal Currency Pairs
Cross Rates
What Moves Currency Pairs?
What Is a Currency Pair?
Major Currency Pairs
Minor / Cross Pairs
Exotic Currency Pairs
Currency Pair Notation
Understanding a Currency Pair Price
Direct & Indirect Quotations
Reciprocal Currency Pairs
Cross Rates
What Moves Currency Pairs?
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UNDERSTANDING BASE AND QUOTE CURRENCY .
What Is the Base Currency?
What Is the Quote Currency?
Reading a Currency Pair
Buying a Currency Pair
Selling a Currency Pair
Base Currency Appreciation
Quote Currency Appreciation
USD as Base vs Quote Currency
Base/Quote Currency & P&L
Cross-Currency Calculations
What Is the Base Currency?
What Is the Quote Currency?
Reading a Currency Pair
Buying a Currency Pair
Selling a Currency Pair
Base Currency Appreciation
Quote Currency Appreciation
USD as Base vs Quote Currency
Base/Quote Currency & P&L
Cross-Currency Calculations
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HOW TO CALCULATE PIPS IN CURRENCY PAIRS ?
What Is a Pip?
Pip vs Point vs Pipette
Calculating Pip Movement
What Is Pip Value?
Standard Lot & Pip Value
Mini Lot & Pip Value
Micro Lot & Pip Value
Pip Value in JPY Pairs
Pip Value in Different Account Currencies
Pip Calculation Exercises
What Is a Pip?
Pip vs Point vs Pipette
Calculating Pip Movement
What Is Pip Value?
Standard Lot & Pip Value
Mini Lot & Pip Value
Micro Lot & Pip Value
Pip Value in JPY Pairs
Pip Value in Different Account Currencies
Pip Calculation Exercises
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HOW TO CALCULATE PIPS IN GOLD TRADING .
Does Gold Have Pips?
Gold Points, Ticks & Price Movement
XAU/USD Price Movement
Dollar Movement Per Ounce
Gold Contract Size
Retail XAU/USD Specifications
Gold P&L Per Ounce
Gold P&L Per Contract
Broker Specification vs Exchange Specification
Gold Calculation Exercises
Does Gold Have Pips?
Gold Points, Ticks & Price Movement
XAU/USD Price Movement
Dollar Movement Per Ounce
Gold Contract Size
Retail XAU/USD Specifications
Gold P&L Per Ounce
Gold P&L Per Contract
Broker Specification vs Exchange Specification
Gold Calculation Exercises
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UNDERSTANDING LOT SIZE .
What Is Lot Size?
Forex Standard Lot
Mini Lot
Micro Lot
Gold Lot Size
Lot Size vs Contract Size
Notional Value
Leverage vs Position Size
Margin vs Notional Value
Lot Size & Pip Value
Lot Size & Gold Price Movement
Why Position Size Changes P&L
What Is Lot Size?
Forex Standard Lot
Mini Lot
Micro Lot
Gold Lot Size
Lot Size vs Contract Size
Notional Value
Leverage vs Position Size
Margin vs Notional Value
Lot Size & Pip Value
Lot Size & Gold Price Movement
Why Position Size Changes P&L
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HOW TO CALCULATE PROFIT AND LOSS ?
What Is Profit & Loss?
Unrealized vs Realized P&L
Forex Long Position P&L
Forex Short Position P&L
Forex P&L Across Different Currency Pairs
Account Currency Conversion
Gold Long Position P&L
Gold Short Position P&L
Gross P&L vs Net P&L
Spread, Commission & Financing Costs
P&L as a Percentage
Comprehensive Forex & Gold P&L Assessment
What Is Profit & Loss?
Unrealized vs Realized P&L
Forex Long Position P&L
Forex Short Position P&L
Forex P&L Across Different Currency Pairs
Account Currency Conversion
Gold Long Position P&L
Gold Short Position P&L
Gross P&L vs Net P&L
Spread, Commission & Financing Costs
P&L as a Percentage
Comprehensive Forex & Gold P&L Assessment
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THREE TYPES OF ANALYSIS ?
What Is Market Analysis?
The Three Types of Market Analysis
Why Do We Need Three Types of Analysis?
Information vs Expectation
Cause, Catalyst & Confirmation
Top-Down vs Bottom-Up Analysis
The Concept of Confluence
When Fundamental, Technical & Sentiment Analysis Disagree
Building a Market Analysis Framework
What Is Market Analysis?
The Three Types of Market Analysis
Why Do We Need Three Types of Analysis?
Information vs Expectation
Cause, Catalyst & Confirmation
Top-Down vs Bottom-Up Analysis
The Concept of Confluence
When Fundamental, Technical & Sentiment Analysis Disagree
Building a Market Analysis Framework
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FUNDAMENTAL ANALYSIS .
What Is Fundamental Analysis & the Economic Machine
Economic Indicators & Market Data
Inflation & Its Impact on Markets
Central Banks & Monetary Policy
Interest Rates, Bond Yields & Currencies
Expectations, Forward Guidance & Market Reaction
Fiscal Policy, Politics & Geopolitics
Trade, Capital Flows & Commodity Fundamentals
Fundamental Drivers of Major Commodities
Building a Macro Narrative & Fundamental Framework
What Is Fundamental Analysis & the Economic Machine
Economic Indicators & Market Data
Inflation & Its Impact on Markets
Central Banks & Monetary Policy
Interest Rates, Bond Yields & Currencies
Expectations, Forward Guidance & Market Reaction
Fiscal Policy, Politics & Geopolitics
Trade, Capital Flows & Commodity Fundamentals
Fundamental Drivers of Major Commodities
Building a Macro Narrative & Fundamental Framework
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TECHNICAL ANALYSIS .
What Is Technical Analysis?
The Price Chart
Understanding OHLC
Candlestick Anatomy
Timeframes
Market Structure
Trends
Ranges & Consolidation
Support & Resistance
Supply & Demand
Price Momentum
Volatility
Volume & Market Activity
Forex Volume vs Futures Volume
Technical Indicators — What They Actually Do
Trend Indicators
Momentum Indicators
Volatility Indicators
Technical Analysis Limitations
Technical Analysis vs Technical Trading
What Is Technical Analysis?
The Price Chart
Understanding OHLC
Candlestick Anatomy
Timeframes
Market Structure
Trends
Ranges & Consolidation
Support & Resistance
Supply & Demand
Price Momentum
Volatility
Volume & Market Activity
Forex Volume vs Futures Volume
Technical Indicators — What They Actually Do
Trend Indicators
Momentum Indicators
Volatility Indicators
Technical Analysis Limitations
Technical Analysis vs Technical Trading
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SENTIMENT ANALYSIS .
What Is Market Sentiment & Positioning
Crowd Psychology, Contrarian Thinking & Crowded Trades
COT Report & Institutional Positioning
Reading COT Data, Open Interest & Positioning Extremes
COT Divergences, Case Studies & Limitations
Retail Sentiment & Crowd Positioning
Fear & Greed, VIX, MOVE & CVOL
Implied vs Realized Volatility
Risk-On, Risk-Off & Global Risk Appetite
Sentiment Confluence Framework & Review
What Is Market Sentiment & Positioning
Crowd Psychology, Contrarian Thinking & Crowded Trades
COT Report & Institutional Positioning
Reading COT Data, Open Interest & Positioning Extremes
COT Divergences, Case Studies & Limitations
Retail Sentiment & Crowd Positioning
Fear & Greed, VIX, MOVE & CVOL
Implied vs Realized Volatility
Risk-On, Risk-Off & Global Risk Appetite
Sentiment Confluence Framework & Review
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THE MYTHS OF THE MARKET .
Forex Is Centralized
One Universal Forex Price
One Bank Controls Forex
Central Banks Control Prices
Fundamentals Always Win
Technical Analysis Predicts
The Crowd Is Always Wrong
COT Shows Smart Money
VIX Is a Signal
Gold Always Rises With Inflation
USD Up = Gold Down
Higher Rates = Currency Strength
More Leverage = More Profit
Win Rate = Better Trader
More Indicators = Better Analysis
Smart Money Always Wins
News Always Moves Markets
Every Gap Fills
The Market Owes You a Setup
Forex Is Centralized
One Universal Forex Price
One Bank Controls Forex
Central Banks Control Prices
Fundamentals Always Win
Technical Analysis Predicts
The Crowd Is Always Wrong
COT Shows Smart Money
VIX Is a Signal
Gold Always Rises With Inflation
USD Up = Gold Down
Higher Rates = Currency Strength
More Leverage = More Profit
Win Rate = Better Trader
More Indicators = Better Analysis
Smart Money Always Wins
News Always Moves Markets
Every Gap Fills
The Market Owes You a Setup
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MAKE IT STAND OUT