Learn forex trading, step by step

Last updated: 14 November 2026 · By the Anrim Forex Team

1. What forex, gold and oil trading is

You trade the price of one thing against another: euros against dollars (EUR/USD), gold against dollars (XAU/USD) or a barrel of oil (USOIL). With an Exness account you trade CFDs: you never hold the metal or the oil, you take a position on whether the price goes up or down.

Prices move on interest-rate news, inflation data, the dollar's strength and world events. Nobody knows the next move for sure.

2. Pips, lots and leverage

A pip is the smallest usual price step (0.0001 on EUR/USD). A lot is the trade size: 1.00 standard lot of EUR/USD is 100,000 euros, 0.01 is a micro lot. Leverage lets a small deposit control a larger position. It makes losses grow as fast as gains, so beginners should keep it low and trade micro lots.

3. Risk: the 1% rule

Decide your stop-loss before you enter, then size the trade so that if the stop is hit you lose no more than 1% of your account. On a $500 account that is $5. Read the full method with examples in how to size a trade with the 1% rule.

4. Reading a chart

Start with the 4-hour and daily candles. Mark the recent high and low, see whether price is making higher highs (uptrend) or lower lows (downtrend), and note round numbers where price often reacts. Simple beats complicated: one trend, two levels, one plan.

5. Reading a recommendation

Every Anrim recommendation shows the pair, direction, entry, stop-loss and target. You decide whether to take it and with what size. If the entry is never reached, the idea did not trigger. See how our recommendations work.

6. Costs: spread, commission and swap

The spread is the gap between buy and sell price. Some accounts charge a commission per lot. A swap is the overnight financing charge; the Islamic swap-free account removes it. Our daily cashback returns part of your spread.

7. Trading psychology

Most losses come from breaking your own plan: moving the stop, doubling after a loss, trading out of boredom. Fewer, planned trades with a fixed risk beat many impulsive ones. If trading is stressing you, stop and step back.