Group 1: Forex Market Overview - The forex market is a global decentralized market operating 24 hours a day, five days a week, with a vast trading volume involving various participants such as central banks, commercial banks, financial institutions, corporations, and individual investors [1] - Different currency pairs available for trading exhibit varying liquidity, volatility, and transaction costs, which traders should understand to select suitable pairs [1] Group 2: Trading Knowledge and Analysis - Understanding exchange rate determination theories, such as purchasing power parity and interest rate parity, aids in analyzing the reasons behind exchange rate fluctuations [1] - Combining technical analysis, which studies price charts and trading indicators, with fundamental analysis, which focuses on economic data and political factors, enhances trading decision accuracy [1] Group 3: Risk Management - Risk control is crucial in forex trading due to market uncertainties; setting reasonable stop-loss and take-profit levels helps manage potential losses and secure profits [2] - Monitoring economic data releases, such as GDP growth, inflation rates, unemployment rates, and interest rate changes, is essential as they directly impact exchange rates [2] - Political stability and central bank monetary policy adjustments significantly influence currency supply and demand, thereby affecting exchange rates [2] Group 4: Trading Platforms - Choosing a suitable trading platform is essential for compliant trading; legitimate platforms must be regulated and possess the necessary licenses to ensure fund safety and transparent trading rules [3] - Reliable trading platforms should offer stable systems with low latency and high stability to ensure timely execution of trading orders, along with comprehensive market data and professional customer service [3]