title = "Currency Trading (FX)"

content = """
Currency trading encompasses foreign exchange markets where currencies are bought and sold, representing the largest and most liquid financial market globally with continuous operation across international time zones.

**Market Structure:**
- **Spot Market**: Immediate exchange of currencies at current market rates
- **Forward Market**: Contracts to exchange currencies at predetermined future rates
- **Swap Market**: Combination of spot and forward transactions for funding and hedging
- **Options Market**: Rights to buy or sell currencies at specified rates

**Major Currency Pairs:**
- **G7 Currencies**: USD, EUR, JPY, GBP, CHF, CAD, AUD
- **Emerging Market Currencies**: CNY, INR, BRL, MXN, ZAR
- **Cross Pairs**: Currency pairs excluding USD (EUR/JPY, GBP/CHF)

**Trading Mechanics:**
- **Bid/Ask Spreads**: Difference between buying and selling prices
- **Pip Values**: Smallest price movements (0.0001 for most pairs, 0.01 for JPY pairs)
- **Lot Sizes**: Standard (100,000 units), mini (10,000 units), micro (1,000 units)
- **Leverage**: Allows control of large positions with small capital (typically 50:1 to 500:1)

**Fundamental Factors:**
- **Interest Rates**: Central bank policies and rate differentials drive carry trades
- **Economic Data**: GDP growth, employment figures, inflation indicators
- **Political Events**: Elections, policy changes, geopolitical tensions
- **Trade Balances**: Import/export relationships and current account positions

**Technical Analysis:**
- **Support/Resistance Levels**: Key price levels where buying/selling pressure concentrates
- **Trend Analysis**: Moving averages, trend lines identifying directional bias
- **Oscillators**: RSI, stochastic indicators identifying overbought/oversold conditions
- **Chart Patterns**: Head and shoulders, double tops/bottoms signaling reversals

**Trading Strategies:**
- **Carry Trade**: Borrowing low-interest currencies to fund high-interest currency investments
- **Momentum Trading**: Following trending moves with technical indicators
- **Range Trading**: Buying lows and selling highs in sideways markets
- **Breakout Trading**: Entering positions when prices break through established levels

**Risk Management:**
- **Stop Loss Orders**: Automatic position closure at predetermined loss levels
- **Position Sizing**: Limiting exposure based on account size and risk tolerance
- **Correlation Analysis**: Understanding relationships between currency pairs
- **Volatility Measurement**: Using ATR and other indicators to assess risk levels

**Settlement Process:**
- **CLS System**: Continuous Linked Settlement enabling simultaneous payment in multiple currencies
- **Value Dating**: T+1 or T+2 settlement depending on currency pair
- **Herstatt Risk**: Counterparty risk during non-simultaneous settlement

**Regulatory Framework:**
- **Dodd-Frank Act**: Swap dealer registration and clearing requirements
- **MiFID II**: European market structure and transparency regulations
- **Bank Secrecy Act**: Anti-money laundering requirements

Currency trading requires sophisticated understanding of global economics, technical analysis, and risk management to navigate this complex and fast-moving market.
"""

version = "0.0.1"
