Structured education for self-directed traders. Not a course promise — reference material to use with AuraFX tools.
Educational only — not financial advice
Forex basics
What is forex?
Forex (foreign exchange) is the global market for trading currency pairs — e.g. EURUSD means how many US dollars one euro buys. It operates 24 hours on weekdays across Sydney, Tokyo, London, and New York sessions. You access it through a regulated broker; AuraFX does not hold your account.
Pips, lots, and spread
A pip is a small price move (0.0001 on most pairs, 0.01 on JPY pairs). A lot is position size (standard lot = 100,000 units on many brokers). Spread is the gap between buy and sell price — your broker’s cost. Always check spread before news events.
Major pairs
EURUSD, GBPUSD, USDJPY, USDCHF, AUDUSD, USDCAD, NZDUSD — highest liquidity. AuraFX live quotes and MT5 presets cover these plus gold. See symbols page.
Gold (XAUUSD)
Why traders watch gold
Gold is often used as a haven asset and reacts to inflation data, central bank policy, and USD strength. XAUUSD is quoted as USD per troy ounce. Volatility can spike on US CPI, NFP, and geopolitical headlines.
AuraFX gold tools
Elite Signals, Pro Assistant, and Risk Guardian include gold-optimised EMA/RSI periods and session notes. Use demo account first. Labels are educational — not buy/sell instructions.
Risk management
Position sizing
Risk only a small % of account per trade (many educators suggest 0.5–2%). AuraFX Pro EA can calculate lots from risk % when configured — you remain responsible for settings.
Stop loss & take profit
Always define exit levels before entry. Use broker SL/TP orders. AuraFX may suggest levels from ATR — verify on your chart; slippage can occur in fast markets.
CPI, NFP, FOMC, GDP, and central bank decisions can move markets in seconds. AuraFX calendar and Risk Guardian can warn or block entries before releases. Many traders reduce size or stand aside — not financial advice.
Using the calendar
Open economic calendar and dashboard Calendar tab. Filter HIGH impact. Note time in UTC and compare to your broker server time.
Using MetaTrader 5
Setup flow
1) Broker MT5 account (demo first) 2) Install AuraFX from MQL5 or copy files 3) Compile in MetaEditor (F7) 4) Attach to chart 5) Enable Algo Trading for EAs. Full guide: get started.