In the context of proprietary (prop) trading, "Forex Facts" likely refers to essential facts and information related to forex trading within a prop trading firm. Proprietary trading firms engage in trading financial instruments, including currencies (forex), with their own capital to generate profits. Here are some key "Forex Facts" that are relevant to prop trading:

Market Basics: Traders in prop firms should have a solid understanding of the forex market, including how currency pairs work, how exchange rates are determined, and the factors that influence currency movements.

Trading Pairs: Forex trading involves trading one currency against another in currency pairs. Traders should be aware of major, minor, and exotic currency pairs and their characteristics.

Leverage: Forex trading often involves the use of leverage, which allows traders to control larger positions with a smaller amount of capital. Understanding how leverage works and its associated risks is crucial.

Market Participants: Knowing who participates in the forex market (banks, financial institutions, retail traders, etc.) and how their actions can impact prices is essential.

Trading Strategies: Prop traders should be well-versed in various forex trading strategies, including technical analysis, fundamental analysis, and sentiment analysis. Understanding when and how to apply these strategies is important.

Risk Management: Effective risk management is critical in forex trading. Traders should be knowledgeable about setting stop-loss orders, managing position sizes, and protecting capital.

Order Types: Understanding different order types (market orders, limit orders, stop orders, etc.) and how to use them to execute trades is essential.

Trading Platforms: Familiarity with the trading platform used by the prop trading firm for forex trading is crucial. This includes knowing how to place orders, analyze charts, and access market data.

Market Hours: Forex markets operate 24 hours a day during the trading week. Traders should be aware of market opening and closing times in different regions and how this affects trading opportunities.

News and Events: Economic news releases, geopolitical events, and central bank decisions can have a significant impact on currency prices. Staying informed about upcoming events and their potential impact is important.

Currency Correlations: Understanding how different currency pairs are correlated can help traders make informed decisions and manage risk.

Psychology: Recognizing the role of psychology in trading is vital. Traders should be aware of common psychological biases and emotions that can affect trading decisions.

Regulations: Depending on the jurisdiction and the prop trading firm's setup, there may be specific regulatory requirements and guidelines that traders must follow when engaging in forex trading.

Reporting and Compliance: Traders in prop firms may be required to maintain accurate trading records and comply with the firm's reporting and compliance procedures.

Continuous Learning: The forex market is dynamic, and traders should be committed to ongoing education and skill development to stay competitive.

These are some fundamental "Forex Facts" that traders in prop trading firms should be familiar with. However, the specific knowledge and requirements may vary depending on the prop firm's focus, trading strategies, and the financial instruments they trade. It's essential for prop traders to continuously update their knowledge and adapt to changing market conditions.