<\/span><\/h3>\nPip – <\/i><\/b>Represents a change in the ratio of the currency by one decimal. It is the smallest unit change course. Pip is the last decimal in a currency relationship<\/span>
\n<\/i><\/b><\/p>\nStop and Limit \u2013 Orders – <\/i><\/b>\u00a0<\/b>Often the trader wants to limit the loss in the position he has opened (in that case he sets the “stop” order). Or the trader wants to take profit at a certain level, which is acceptable to him\/she (in this case he sets a “limit” order).<\/span>
\n<\/i><\/b><\/p>\nLong<\/i><\/b> – <\/b>Used for the purchase order<\/span>
\n<\/i><\/b><\/p>\nShort<\/i><\/b> –<\/b> Tension used for a sales order<\/span>
\n<\/i><\/b><\/p>\nBid<\/i><\/b> – <\/b>Bid price<\/span>
\n<\/i><\/b><\/p>\nAsk <\/i><\/b>– <\/b>The price that is claimed<\/span>
\n<\/i><\/b><\/p>\nBuy<\/i><\/b> – <\/b>Shopping<\/span>
\n<\/i><\/b><\/p>\nSell<\/i><\/b> – <\/b>Sale<\/span>
\n<\/i><\/b><\/p>\nSpread<\/i><\/b> – <\/b>The difference between the sale and purchase price<\/span>
\n<\/i><\/b><\/p>\nChart<\/i><\/b> – Graph<\/span>
\n<\/i><\/b><\/p>\nTimeframe<\/i><\/b> – Time period<\/span>
\n<\/i><\/b><\/p>\nLeverage <\/i><\/b>– Multiplies the amount of money you invest <\/span>
\n<\/i><\/b><\/p>\nCandlestick<\/i><\/b> – \u00a0<\/b>Candlesticks show that emotion by visually representing the size of price moves with different colors. Red means the starting price was higher than the closing price at a certain time. Green means it ended higher than the starting point.<\/span><\/p>\n
\n![\"\"](\"https:\/\/traders-paradise.com\/magazine\/wp-content\/uploads\/2019\/01\/what-do-you-know-about-forex-trading-5-e1546928630577.jpg\")
<\/b><\/p>\n<\/span>How to read candlestick graph: To every time period<\/span><\/h3>\nOpen – The price of an asset at the start of a time period
\nClose – The price of the same asset at the END of the same time period
\nHigh –\u00a0 The highest price the asset reached during that time period
\nLow –\u00a0 The lowest price the asset reached at the same time
\nTime period – Can be from 1 minute to one year<\/p>\n
<\/span>What is needed to trade on Forex?<\/b><\/span><\/h3>\nBefore <\/i><\/b>you <\/span>start trading<\/i><\/b> the currency, you need to <\/span>open an account<\/i><\/b> with a <\/span>Forex broker<\/i><\/b>. Our recommendation is that before you decide on trading on Forex, open a demo account with one of the brokers.<\/span><\/p>\nYou can use a trustworthy Forex broker.\u00a0<\/span><\/p>\n![\"\"](\"https:\/\/traders-paradise.com\/magazine\/wp-content\/uploads\/2019\/01\/what-do-you-know-about-forex-trading-4.jpg\")
\nSo that through the use of the platform, you will be able to monitor market activities and learn more.<\/span><\/p>\nYOU WOULD LIKE TO READ about the best Forex trading styles<\/strong><\/span><\/a><\/p>\n
![\"Forex](\"https:\/\/traders-paradise.com\/magazine\/wp-content\/uploads\/2018\/10\/two-different-approaches-to-profitable-forex-trading-4-e1546930328912.jpeg\")
<\/p>\n