 from the Urban Forex Internship Department. Now this time we're going to be discussing some information about the MetaTrader language that is used. Okay. Now first things first we have our MetaTrader open here I have EuroUSD the 15-minute chart. The first things first. Let's open up a new account. Let's say Okay, I've filled up all my information as far as leverage is concerned. Remember leverage is your buying power This is the amount that you can purchase Right now. I'm going to go ahead and select one is to 100 which means my one dollar is worth $100 in the market. Okay. I'm going to keep an account of 50,000. I'll click I agree and next Next and my account is created now Now that the account is created Let's take a look. Okay. Here is my balance Okay, I can How do you get to this area here? Let me show you. There's a button right up here called terminal This is a little box with a blue edge on the side. You click that this thing opens up here You can see your trades running your account history any news if there's any alerts that you've set up Your mailbox any information such as your username password is here in the registration and then a journal of everything that you've done Log in if there's any errors or anything, but let's start from here. Let's say I want to go ahead and Open a trade right here. What am I going to do first thing over here? You'll see new order up here Or you can press F9 Okay Once you have new order you select your currency in this particular example, I'm going to choose your USD Now when it comes to volume, what does volume mean ball is your trade size that you're going to open Okay, things in the for its market work in lots now a standard lot is a hundred thousand units a mini lot is ten thousand units a Micro lot is one thousand units. So let's say I want to open up A two mini lots. Okay 1.0 is basically one standard lot I'm going to go ahead and make this To mini lots. So I'm going to go one decimal over and 0.2. These are two mini lots, which means 20,000 units. I am now Going to go ahead and click buy Now I've bought 20,000 worth of euros against the US dollar now $20,000 worth of the base currency when you look at a currency pair like this the currency on the left is your base currency Okay, which means one unit of this is equal to This whatever is running at this price. Let me explain that a little bit more clearly now on The right here you will see your prices. They're always fluctuating. Okay, this rice Right here represents the counter currency, which is the currency on the right, which is in this particular case It's the US dollar this means one euro is equal to one point three zero eight four US dollar at the current moment So when I'm looking at the euro USD chart, I see it going upwards, right? This means the euro is getting stronger against the dollar And nothing more When it's going down, it means the euro is getting weaker against the dollar and it means vice versa The dollar is getting stronger against the euro if it's going down If it's going up the dollar is getting weaker against the euro. Okay, so the chart basically represents the base currency It's telling me that the base currency is getting stronger if it goes down. It's getting weaker against the counter Now when you're trading we selected our leverage of one is to one hundred our buying power Okay, now each broker takes pretty much what you call a deposit The correct terminology for that is margin over here. You will see margin. They took $261 worth of Margin from us to allow us to open a trade of 20,000 units which is a zero point two in Terms of size. Okay, two mini lots basically this means Okay, we have opened up a buy on This time for two mini lots on euro USD at this price and This is the current running price and this is our current Running profit or loss the current moment. We're running at a loss of a dollar and sixty cents. Okay now Over here, you'll see your balance. The balance is 50,000. Okay There's another term called equity equity is basically your balance plus your profit loss okay Basically your equity basically means if I were to close right now. This is what I will have into my balance Okay, so your equity simply reflects your running profit loss plus your balance Okay, margin is the deposit that they're holding from your account to allow you to open a trade this size Free margin is how much margin you have available to open up more trades if you need to and Then here's a percentage Okay, so currently the trades are running at Approximately three dollars in profit if I want to close it. I simply just double click There is an option to close right here. I click close and The trade is now closed and do the account history and see today There was a trade place for two mini lots at this price which was closed at this price at this time and Turned a profit or loss in this particular case a profit of one dollar sixty cents Making my total balance now fifty thousand and one dollar and sixty cents You can see the equity goes back to normal Your balance is also here because there is no running profit or loss your equity is simply the balance now Free margin is also back to Okay, so that is some of the terminologies that we went through we went through a couple words that we went through volume volume is simply How big of a trade size you want to open 1.0 is a standard lot 0.1 is a mini lot and 0.01 is a Micro lot when you want if you want to trade micro let's just confirm that your broker allows it not all brokers allow this Leverage is your buying power Okay, for example, if you have one is to 100 It means your one dollar is worth a hundred dollars into the market Base currency is the currency on the left. It is also the currency that represents the chart Okay, in this particular case euro Counter currency is the currency on the right Okay, in this particular case is the US dollar counter currency is reflected on your price It means one base currency is equal to this much counter currency Okay Margin is the deposit that the broker requires you to that they set aside from you to allow you to open a trade side of your choice Equity is your balance plus your running P&L P&L stands for profit or loss They hope that was insightful. Thank you for watching