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How big or small your position is should not be a random decision. Position size is precisely calibrated for the risk on the trade and your. Kindly do NOT trade with borrowed money or money that you cannot afford to lose. All forex pairs are quoted in terms of one currency versus another, Forex trading is the act of simultaneously buying one currency while selling another. Each currency pair has a "base" currency and a "counter" currency. The base currency is the currency on the left of the currency pair and the counter currency is on the right.

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One big difference between the two is that with binary options you will take trades with a fixed return, 70% would be a common example, but the returns do vary from broker to broker and from trade type to trade type you will learn more about that later.

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It's up to you to put in your all into becoming a proficient trader; and it is up to hold yourself accountable.

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In the next chapters, we will be tackling about fundamental analysis, trading strategies, technical analysis and technical indicators.