Course 1 of 6 10 lessons, about 63 min Free, no sign-up

Trading basics

Start here if you have never placed a trade, or if words like pip, lot and margin still feel fuzzy. Ten short lessons take you from what trading is to reading a quote, sizing a position and knowing when markets are open, with a real example in every lesson and a prop firm angle at the end of each.

By Angus, Select Prop Firms Part of the Select Prop Firms Academy

What you will be able to do

  • Read a quote and work out the spread
  • Turn any price move into dollars with pips, points and ticks
  • Size a trade in lots and explain what leverage really changes
  • Pick the right order type and know when markets are open

The 10 lessons

Each lesson ends with three quick questions. Take them in order, or jump to what you need.

  1. What is trading, and who is on the other side? 6 min
  2. The markets: forex, indices, commodities, crypto and futures 7 min
  3. Long and short: how a trade makes or loses money 5 min
  4. Bid, ask and spread 6 min
  5. Pips, points and ticks 7 min
  6. Lots and contract size 6 min
  7. Leverage and margin 7 min
  8. Order types: market, limit and stop 6 min
  9. Trading sessions and market hours 6 min
  10. Brokers, exchanges and prop firms: who does what 7 min

Trading basics quiz

12 questions drawn from 25, so it changes each time. Score 75% or more to complete the course. Nothing is sent anywhere.

More courses

Risk mathsOpens 23 November
Futures basicsOpens 30 November
Reading chartsOpens 7 December
Process and psychologyOpens 14 December
Prop trading10 lessons

Educational content, not financial advice. Trading carries a high risk of loss, and most traders lose money.