Forex Basics for Manual Trading — Sessions, Costs, MT5 Essentials
Understand 24/5 sessions and rollover, spreads/commission/swaps, and the MT5 tools you'll use (symbols, orders, SL/TP, alerts). Start demo-ready today.
1.1When the market is "awake" — and when to avoid it
Sessions: Tokyo → London → New York. London/NY overlap is most active.
Rollover (around broker midnight): spreads often widen; execution degrades briefly.
Weekend risk: markets close; Monday may open with gaps.
1.2Trades cost money — include it in your plan
Spread: ask − bid; can widen at rollover/news.
Commission: raw/ECN accounts charge per lot (round-trip), standard accounts embed more in spread.
Swap: overnight financing; positive/negative, triple-swap day midweek.
Cost vs Target (Example)
If spread 1.0 pip + commission ~$7/lot (≈0.7 pip) + slippage 0.2 pip → ≈1.9 pips cost.
1.3Your toolbox in MT5
Symbols & Market Watch
Add majors (EURUSD, GBPUSD) and XAUUSD.
Orders
Market and pending (limit/stop); set SL/TP in the ticket or by dragging lines on chart.
Alerts
Chart/price alerts to prepare for signals; Tools → Options → Notifications to send push to mobile.
Chart Basics
Switch timeframes (M15/H1), switch to candles, save template.
1.4Practice (10–15 min): set up demo and alerts
Hands-on setup to get you demo-ready
1.5"What hurts execution" checklist (copyable)
High-impact news windows (±15–30 min) — avoid new entries.
Rollover around broker midnight — spreads widen.
Very tight TP vs fixed costs — be cautious (cost/target > 20–30%).
Thin liquidity hours (end of NY / pre-Tokyo).
Unstable Internet/terminal (reboots, updates) — ensure 24/5 stability if needed.
1.6Mini-Quiz
Mini-Quiz
Test your understanding with 3 questions. Pass with 2/3 correct.
1.6What's next
Great — you're demo-ready and know what hurts execution. Next: learn how to read our daily signals and turn them into a simple, safe plan.
Next: How to Read Our Signals