Fundamentals

Most of what makes the start hard is not predicting the market. It is the layer of vocabulary and mechanics sitting between a beginner and their first order. Lots, pips, margin, leverage, reading a symbol, setting up a platform — none of it is difficult, but unexplained it blocks the way. This section is that groundwork.

A sensible reading order runs from units to mechanics. Start with how prices and symbols are read, then lots, pips and pip value — the pair of ideas that turns price movement into money, and without which position size cannot be worked out. Then margin and leverage, the two most often confused with each other. Only after that the platform itself: setting up MT4 or MT5 for the first time, server time, and the order types.

One thing is worth doing earlier than most people do it: open the contract specification window for the product you intend to trade. Contract size, minimum volume, volume step, overnight rates — they are all there, and they differ between products as well as between account types. Several articles here come back to that window, because it is the correct source of figures for the account you are actually using.