- Pip
- The standard unit of price movement in a currency pair — typically the fourth decimal place (the second, for pairs quoted in Japanese yen). Reading pip moves is the first step to understanding how far a pair has travelled.
- Lot
- A standardised unit describing the size of a simulated position. A standard lot represents 100,000 units of the base currency; mini and micro lots are smaller fractions used for finer position sizing.
- Spread
- The gap between the bid (sell) and ask (buy) price of a pair, quoted in pips. A tighter spread generally points to a more liquid, actively traded pair.
- Virtual balance
- The practice funds credited to your UHX Trader profile. It moves with simulated trading activity, does not involve real money, and can be reset at any time.
- Major pair
- One of the seven most actively quoted currency pairs — EUR/USD, USD/JPY, GBP/USD, USD/CHF, AUD/USD, USD/CAD and NZD/USD — used exclusively in this simulator.
- Base currency
- The first currency listed in a pair, such as EUR in EUR/USD. It is the currency being bought or sold in a simulated trade.
- Quote currency
- The second currency listed in a pair, such as USD in EUR/USD. It shows how much of that currency is needed to buy one unit of the base currency.
- Bid price
- The price at which the market will accept the base currency in a simulated sell order — always slightly lower than the ask price.
- Ask price
- The price at which the market will supply the base currency in a simulated buy order — always slightly higher than the bid price.
- Long position
- A simulated position opened by buying a pair, which gains in value if the price rises.
- Short position
- A simulated position opened by selling a pair, which gains in value if the price falls.
- Candlestick
- A chart element that plots the open, high, low and close price of a pair over a chosen timeframe.
- Timeframe
- The period a single candlestick represents, from one minute up to one month, depending on the chart view.
- Support
- A price level where a pair has repeatedly stopped falling in the past and turned higher again.
- Resistance
- A price level where a pair has repeatedly stopped rising in the past and turned lower again.
- Trend
- The general direction — up, down, or sideways — that a pair's price is moving over a chosen timeframe.
- Leverage
- A simulator setting that scales the size of a practice position relative to the virtual balance backing it.
- Margin
- The portion of virtual balance set aside to open and maintain a simulated position.
- Trading session
- One of the four main time windows — Sydney, Tokyo, London and New York — when Forex activity around the world is at its busiest.
- Stop-loss
- A practice order that automatically closes a position if the price reaches a level you set in advance, used to study basic risk limits.
