Obviously it has to satisfy the following:
1) For all $x,y\in X$, $0\le d(x,y)$. (positivity)
2) For all $x,y\in X$, $d(x,y)=d(y,x)$. (symmetry)
3) For all $x,y,z\in X$, $d(x,y)\le d(x,z)+d(z,y)$. (triangle-inequality)
This is a homework problem and I'm not sure where to even start. I'm new to the concept of metric spaces and would appreciate any help/direction.
If x=y, then $\rho(x,y)=\rho(x,x)=(x-x)^2=0$. I'm assuming that will suffice for (1).