The account behind the chart

A candle pattern on a chart, beside an order that needs a size and a stop

A chart shows what has happened. An order says what you will do next. A candle pattern is a description of a few sessions; it does not tell you how much to risk, where to place a stop, or when to take profit. Those are decisions you make on the order ticket. The ticket is on the trading platform, not on this site. It asks for a size, a direction, and often a stop loss and a take profit. The stop loss is the price at which the platform will close the position to limit a loss. The take profit is the price at which it will close to take a gain. A pattern may suggest a place for a stop — beyond the pattern's extreme — but it does not set the size. Size is how much you stand to lose if the stop is hit, and that is a matter of account size and risk tolerance, not of candle shape.

A pattern drawn on a chart is not an order. This site draws patterns on its own history; it does not place trades. If you want to act on a pattern, you open the trading platform and place an order yourself. The platform is provided by FxPro, and the order ticket carries its own fields. The chart and the ticket are separate. The chart tells a story; the ticket is a commitment. Beginners often confuse them, and that is the mistake this site teaches against. A hammer is not a buy signal; it is a description of what buyers and sellers did in one session. The next candle is what the textbook waits for, and the order ticket is where you decide what that next candle means for your money.

What a contract on gold, a currency pair or an index is and is not

FxPro quotes gold, currency pairs and share indices as contracts for difference. A contract for difference is an agreement to exchange the difference in price between the time the contract is opened and the time it is closed. Nothing is delivered, weighed, stored or exchanged at a counter. You do not own gold, you do not hold currency, and you do not own a share of an index. You hold a contract whose value moves with the price of the underlying asset. If the price moves in your favour, the contract gains; if it moves against you, the contract loses. The contract is settled in cash, not in metal or currency.

This is not the same as buying a bar of gold or exchanging rupees for dollars. Those transactions involve delivery and storage or a bank account. A contract for difference is a derivative, and it carries its own costs and risks. The price you see on the platform may differ from the spot price by a spread, and there may be a swap or commission. The contract is not a claim on the underlying asset, and it does not give you any rights in the company or the commodity. It is a bet on the direction of the price, and it can lose more than the initial margin if the market moves sharply. The terms of the contract are set by FxPro, and you should read them before you open an account.

What to read in the terms before an account is opened from India

Opening an account requires identification and takes a day or two. FxPro offers the MT4, MT5 and cTrader platforms, the FxPro Edge web platform and a mobile app, so the same chart can be opened in several places. A practice account exists and costs nothing. Before you open a live account, read the terms. The terms state the spreads, commissions, swaps, and any other charges. They state the margin requirements and the leverage. They state how withdrawals are processed and what documents are needed. They state the risks of trading contracts for difference, including the risk of losing more than you deposit.

From India, there are additional considerations. The Reserve Bank of India's Liberalised Remittance Scheme governs how much an Indian resident can send abroad in a financial year, and that includes money sent to a broker. The scheme has a ceiling, and it is not enlarged by using more than one authorised dealer. The bank that sends the money must be an authorised dealer, and it may collect tax at source on the remittance. The broker is not responsible for these rules; you are. Before you open an account, check the current ceiling, the tax collection, and the bank's own charges. The broker's terms will not tell you these; they are Indian regulations, and you must look them up yourself. A practice account costs nothing, and it is the place to see the platform's screens before you commit any money.

FxPro is regulated by the FCA (United Kingdom) and CySEC (Cyprus). It is not registered with SEBI and is not regulated in India. Indian residents should note that remittances made under the Liberalised Remittance Scheme may not be used for margin trading, and nothing on this site is investment advice.