In chess, an exchange (or trade) occurs when players capture each other’s pieces — often with deep tactical and strategic consequences. Sometimes you exchange to simplify into a winning endgame, sometimes to relieve pressure or eliminate a key defender. Understanding when to trade and when to maintain tension separates strong players from weaker ones.
Exchanges can be even (equal value) or uneven (such as trading a rook for a bishop or knight). The latter is famously called “the exchange” — gaining or losing material imbalance. Beyond value, however, position, pawn structure, and initiative often matter more than the raw arithmetic.
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