Forex foundations and terminal tour
7 lessons
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- 0.1 What forex is ✓ Completed
Forex is the market where one currency is exchanged for another. Every price is a pair, and reading a pair correctly is the first skill you need.
- 0.2 Bid, ask and spread ✓ Completed
Every pair has two prices at once, a bid and an ask. The gap between them is the spread, and it is a cost you pay on every trade.
- 0.3 Pips and points ✓ Completed
A pip is the standard unit for measuring a price move. Its size depends on the symbol, and the extra decimal on most quotes is a point, a tenth of a pip.
- 0.4 Lots and pip value ✓ Completed
Trade size is measured in lots. The lot size decides what one pip is worth in money, which turns a move in pips into a profit or loss in dollars.
- 0.5 Leverage and margin ✓ Completed
Leverage lets you open a position much bigger than your balance by locking up only part of its value as margin. It does not change what a pip is worth, but it lets you open trades big enough to wipe out the account.
- 0.6 Reading a chart ✓ Completed
A chart shows how the price moved over time. Each candle packs four prices into one shape, and the timeframe decides how much time one candle covers.
- 0.7 Your first practice trade ✓ Completed
Open and close one tiny trade with practice money, so you know what a market order, a pending order and a closed trade look like before you study risk.