GUIDE 01
Pip, point and tick
These terms describe price increments, but their meaning depends on the instrument and platform. A Forex pip convention is not interchangeable with an index point or a futures tick. Always check the symbol specification.
Learning centre
Understand the numbers behind the market.
Short, practical explanations of common trading terms and calculation assumptions.
GUIDE 02
Bid, ask and spread
The bid is the price at which a market participant may sell to the quote provider; the ask is the price at which a participant may buy. The spread is the difference between ask and bid. Displayed quotes may not match executable prices.
GUIDE 03
Contract size and multiplier
A contract multiplier translates a price movement into a monetary change for a stated quantity. The correct value depends on the exact product and broker contract. Do not assume gold, shares, indices or crypto use the same multiplier.
GUIDE 04
Leverage and margin
Leverage relates exposure to required capital. A simplified notional calculation may not match a broker margin engine with tiers, offsets, instrument-specific rules or changing requirements.
GUIDE 05
Position size and P/L
A position-size estimate depends on the account currency, stop distance, pip/tick value, conversion rate, and broker volume increment. P/L also depends on direction, quantity, contract multiplier and costs.
GUIDE 06
Market data quality
Check the source, timestamp, market state and whether the quote is indicative, delayed or stale. A chart should use provider-supplied historical OHLC bars rather than invented points from periodic quote polling.
GUIDE 07
Trading costs
Spread, commission, swap/financing, conversion, slippage and other fees may all affect a result. Some costs vary by account, instrument, direction, holding period and market conditions.
GUIDE 08
Keeping a journal
Record the plan, entry, exit, position size, costs and observations. Review patterns over a meaningful sample rather than drawing conclusions from a handful of trades.