E_traderacademy📊

When you select an option other than Instant Execution, you'll be prompted to enter the price at which you want the trade to execute. The trade will be carried out once the market reaches your specified price.

The *"Buy Stop"* function sets a pending order to buy a currency pair when the price rises to or above a specified level. This is used when you anticipate the price will keep increasing.

The *Sell Stop* is the opposite of *Buy stop*

The sell limit is the direct opposite of Buy limit.

The "Buy Limit" function lets you set a pending order to buy a currency pair at a price below the current market price. You define the price at which you want the order to execute, and the trade will be activated when the market price reaches or falls below that level.

The "Instant Execution" feature allows you to execute a trade at the current market price instantly. Once you confirm the trade, it is processed immediately without any price changes or delays. You can set your stop loss or take profit levels either before or after placing the trade.

To execute a trade, click on "Trade," and it will display the trading options.

When you select any of the pairs, a tab like this will appear.

Click the plus sign to include your preferred currency pair to appear in the quotes.

Click on "Forex" if you will be trading Forex pairs; this will display all the available currency pairs for trading.

To add or select pairs of your choice you click or tap on the search box.

Re-cap: Good day everyone, We will continue from this point with the MetaTrader tutorial.

Example: EUR/USD EUR= the base currency USD= the quote currency

The base currency has more influence/ power than quote currency.think of the base currency as number one. The quote is what gives the entire currency pair it's price

currency pairs are made up of two things ◻️ The base currency ◻️The quote currency

Crosses pair: They are called crosses because, in the old times, most currencies were fixed to the U.S. dollar. In order to exchange a currency, it first had to be exchanged for U.S. dollars. Crosses are a good addition to the portfolio when you feel confident with a major pair and want to diversify your positions. Example AUD/CAD EUR/AUD NZD/JPY Exotics pairs Exotics are currency pairs that contain a currency of a developing country and have low liquidity because they are traded less often Example Mexican peso – MXN Russian Federation ruble – RUB

The most popular pairs are those that include the U.S. dollar. These pairs are called Majors because they are traded most often.we also have the Crosses and exotics pairs

What is a currency pair? Currencies are traded through a forex broker or a bank and they are quoted and traded in pairs. A currency pair is simply the quotation of the relative value of a currency unit against the unit of another currency. simply it means that no currency on its own has an absolute value. Therefore for you to give value to a currency you need to actually quote it with another currency.

It is important to understand that you are not simply trading money in forex but you are essentially trading economies of entire countries!