Learn/The Basics
Reading course

The Basics

What forex is, who moves it, pips, lots, orders and risk. 2 modules, 12 lessons, 38 min.

Start with the first lessonOpen in the app

The market

4 lessons, 13 min
What is forex?The market where currencies trade, why its prices move, and how big it really is.3 min readMarket participantsThe seven kinds of players in the currency market, from central banks down to you, and what each one is there to do.3 min readTime zonesWhen each session opens, where the sessions overlap, and why the hour you trade changes how a pair behaves.4 min readTimeframesThe chart timeframes traders analyze, the four trading styles built on them, and how to read more than one at a time.3 min read

Mechanics

8 lessons, 25 min
BrokersWhat a broker does between you and the market, and the difference between a dealing desk and a no dealing desk.3 min readBid versus askThe two prices in every quote, the spread between them, and why a trade starts a little behind.3 min readWhat is a pip?The smallest standard move in a pair, how to turn it into money, and how the count changes for crypto, commodities and indices.5 min readLot sizingMicro, mini and standard lots, the formula that turns pips into money, and how to size a trade from your stop.4 min readChoosing a pairThe kinds of pairs you can trade and the four things to weigh before you pick one.2 min readPlacing a tradeThe seven steps of a buy or sell order, from picking the pair to watching the position.3 min readPending ordersThe four pending orders, where each one sits relative to price, and when a trader reaches for each.3 min readStop losses and take profitsThe two orders that close a trade for you, and where a plan puts them.2 min read
The Basics - TradeDNA University | TradeDNA