Suggestion Forex terminology - Any takers?

[madgar29]

Hi, I am new to the forums, I am new to Forex Trading, but I dived straight in. I signed up for a brokerage and bought the best EA they claimed. Then I did it again. I made a new brokerage account funded even more and spent even more on another EA, both btw 1 is running right now 24/7 I am not regretting my decision at all. I understand I can lose it all or actually grow money depending on how trusting these EAs and if they are as good as they say they are. As of right now if you do not count the EA debt, I am positive of 3 dollars lol. Let me be clear the second one I am still waiting for a reply from the EA creator team rather or not if they prefer mt4 enhanced of classic before I get to actually start that one. I just wanted to make a short intro of where I am.

This thread is about learning Forex, Education. I believe the biggest tool in the world. I would do it for free right now if I knew more about Forex. are just common terms. If anyone has a list of common terms and define them that would be AMAZING, to have on here. For example 1. EA = Expert Advisior - Program that auto trades for you depending on the settings you pick or program into it. (term, full name, short description of what is it.

I am serious this would really help me a lot right now. I will give you an example, I like the idea of scalping and I could be wrong on what that even is myself. My definintion of Scalping is you find a window can be a very short window. you sell or buy for a short time for small profit, but the goal is to do them fast and a lot, so you hit a window you profit 5-8 bucks, you hit another one and another one the goal is to hit as many as possible as you can. as soon as you see a lose in the profit margin you close the trade. this is my self understanding of scalping and if thats not the official term then I need to learn what the beep crap I just said.

ill start...

1. EA - Expert advisor - program that auto trades for you Customize it as much as you want.
2. Indicator - ?
3. trail loss - I don't know what it means technically but I do know I want to minimize my loses so if I have a small budget trail loss is going to be tight for me. hits -5 bucks okay I can nolonger afford to lose anymore I cannot hold this position anymore to me that is a trail loss - but i am sure it gets more fancy sure i have a 5 dollar cut im out loss cut, but what if it says way im predicting its about to break as well....... but that is obviously getting into deeper things. common terms would be amazing is all thank you.
4. candle - what is this?
5. pips or pipes - they say just think of it has 1 pip is a 1 usd. but I dont understand why?

I think you guys get the Idea, anyone that has a list of terminology like this please copy and paste it here or create one. Obviously would help anyone learn Forex 10 times faster.

For example I have a EA named ODIN it uses ints own indicator ODIN but what does a indicator do for an EA and if i KNEW what if i knew of a better Indicator but I liked the EA but i personally felt it could us this indicator. - at this point i have no idea what i am talking about but thats what i am getting at. I know there is a lot to forex, strategy and so on but if one can just grasp the basic terms, I know that I could learn Forex ten times faster just knowing the terms. like stock terms bully bearish we are to fancy of men to say low or high so we will call them animals yup that will confuse the public to hide our secrets. I dont get it. Dont even get me started on corperation terminology. I am going off topic.... Forex Terms is anyone game here? for Forex Education?


PS I would mark this as a tutorial but as I lack the knowledge to create it as a tutorial it is merely a suggestion at this point.

 

[madgar29]

I need help, learning forex. I will give list of terms I need to learn, if anyone is willing to type out the answers.

So I want to refine my input settings for my EAs to what I want for my accounts.

lots obviously when i buy/sell lot size I am doing 0.1 right now that is ten cents? or am I wrong? I know a pipe or a pip or w/e 1 is 1 usd or 1 whatever currency - just learned .1 means a thousand and MM is market marker or aka dd desk dealers

But what is

1. max speed?
2. Slippage?
Stop loss says 50 i am guessing 50%. why would i want to stop the trade at 50% loss, you would think i would want 10-20% no?
takeprofit 50 i am guessing thats 50 pips/pipes/w/e - with one of my brokagers I would love a ea that will just profit 1 dollar over and over why not, i dont get charged for commission 5 bucks for every million., take profit 50 does that mean when it hits 50 it will keep going but 50 is the minimum profit?????? or is that just the top goal hit 50 it stops? i am confused on this. for example if i wrote an ea, I want 50 profile hits 50 but keeps going up okay at 51 i want it to close if it hits 51.5 if it keeps gaining example again 52.5 53.5 54.5 why do most eas do a 20% if it starts to lose just stop at the roundest pip down.

3. what does ATR stand for?
maxatr 10 what does this mean????

4. trailing step?
5. trailing stop 50 stop at 50%??????? WHY???
TP AND SL = what do these mean???? total profit? sl? slippage lose???? both at 50 these pips or a percent? still why 50% slippage crazy man.
6. auto MM balance, what is MM? market management? i dont understand what MM is.


basically I want to keep slippage small and profits may be small but roll over time it adds up easy. but i am just trying to understand loss and profit taking input then move on to when to enter and when to exit. Which grid turn points might be the easiest way. I believe. if i have to make my own EA for this i will try and share.