The base currency is the first currency in a pair and the quote currency is the second. See how forex prices are quoted and what going long or short means.
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A pip is the smallest standard price move in a currency pair, usually 0.0001, or the fourth decimal place. See how pips work, with worked examples.
Leverage lets you open a forex position larger than your own capital by borrowing from your broker. See how it works and how it magnifies gains and losses.
A lot is the standard unit that sets the size of a forex trade. Because pips are tiny moves, lots make them practical to trade. See how lot sizes work.
The forex market runs 24 hours a day, five days a week, but you do not need to trade all of it. See the three trading hours that matter most…