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Routes through the courseThe fourteen lessons that get you from never having opened a chart to placing a sized trade on a demo account.

From zero in two weeks

Lessons on this route

14 lessons

  1. 1 · Lesson 1.1

    What happens when you press Buy

    An order leaves your platform, gets filled at a price, becomes an open position, and ends when you close it. Four steps, and every cost attaches to one of them.

  2. 2 · Lesson 1.2

    Pairs and quotes: what 1.0850 means

    A quote is the price of the first currency in the second. The number you see moves in the last decimal place, and that place has a money value.

  3. 3 · Lesson 1.3

    What a pip is worth in money

    A pip is the smallest standard price step. What it is worth depends on lot size and the pair, so the same twenty-pip move pays differently on different trades.

  4. 4 · Lesson 1.4

    Lots: standard, mini and micro

    A lot is how much of the instrument one trade controls. Standard is 100,000 units, mini is a tenth of that, micro a hundredth.

  5. 5 · Lesson 1.5

    The three costs: spread, commission, swap

    You pay the spread on entry, commission on some account types, and swap for every night a position stays open. All three are known before you trade.

  6. 6 · Lesson 1.7

    Leverage and margin: how much of the trade is yours

    Leverage sets how large a position your deposit can hold. Margin is the part of your money locked against it while the trade is open.

  7. 7 · Lesson 1.8

    Order types: market, limit, stop

    A market order takes the current price. A limit waits for a better one. A stop triggers once price reaches a worse one.

  8. 8 · Lesson 1.9

    Stop loss and take profit

    Two instructions you attach to a position: one closes it at a loss you chose in advance, the other at a profit you chose in advance.

  9. 9 · Lesson 1.10

    MT4, MT5 and cTrader: which to pick

    The three platforms differ in instruments, order handling and how they report costs. The choice is reversible; the account type behind it is less so.

  10. 10 · Lesson 1.12

    Demo accounts: what they teach and where they lie

    A demo teaches the platform and the arithmetic honestly. It cannot teach fills in a fast market, and it cannot teach how losing real money feels.

  11. 11 · Lesson 1.14

    Opening an account and passing verification

    What documents a regulated broker has to ask for, why it has to ask, and the checks that hold an application up.

  12. 12 · Lesson 1.15

    Deposits and withdrawals with local methods

    Which local payment methods reach a broker, how long each leg takes, and why a withdrawal usually has to go back the way the deposit came.

  13. 13 · Lesson 3.1

    Risk per trade: the 1-2% rule

    Deciding the money you can lose on one trade before deciding anything else. Everything downstream — size, stop, target — follows from that number.

  14. 14 · Lesson 3.2

    Working out position size

    Risk in money, divided by the stop distance in pips, divided by pip value. Three numbers you already have, in that order.

What this route is for and who it suits

This route is a two-week plan of work. It is for someone who has never opened a price chart. It takes fourteen lessons in one fixed order. The order is not about difficulty. It is about what you need to know before the next step makes sense. You start with what a buy button does, then what the numbers on the screen mean, then what each part of a trade costs. Only after that do you look at leverage, orders, stops and platforms. The last four lessons turn all of it into one sized trade on a demo account.

The route exists because most beginners meet the topics in the wrong order. They open a platform first, see a moving line, and press a button before they know what a pip is worth in naira. That produces a demo account full of random trades and no lesson learned. Working in this order means every new idea has something to attach to. When you reach position size, you already know the pip value, the lot sizes, the three costs and the stop distance. The sum is then arithmetic, not guesswork.

The plan assumes about one hour a day for fourteen days. Some lessons are short. The ones on costs, leverage and position size need more time because the numbers matter. You do not need money to start. A demo account is free. You do not need to deposit anything. The only cost of the route itself is your time and, later, whatever your internet connection costs. Nothing in the route requires you to send money to anyone.

What to have ready before you begin

You need a device that can open a browser and a spreadsheet. A phone works for reading. A laptop makes the arithmetic easier. You need an email address you can reach. You need a notebook or a plain document for the numbers. Before lesson one, write down the EUR/USD price you see, around 1.0850. You will use that same figure in several lessons. Keeping one figure across the route stops you from comparing different prices by mistake.

You do not need a broker account to start. The first ten lessons run on a demo account, which is free and needs no deposit. When you reach the lesson on opening an account, you will need a government-issued identity document and proof of address. Those are the usual requirements, but the exact list varies between brokers. You will also need a bank account in your name that can receive a transfer. Payment methods in Nigeria commonly include bank transfer, USSD and cards. Which of these a given broker accepts varies.

Have a way to record costs. From lesson five onward, every lesson starts with what it costs in money. Write each cost in naira beside the trade it belongs to. Spread is a cost on every trade. Commission applies on some account types and not others. Swap applies only if you hold a position overnight. If you do not write these down, they blur into one number and you cannot tell which one is eating your demo balance. A simple table with four columns is enough: date, instrument, cost type, amount in naira.

Mistakes people make while following this route

The first mistake is skipping the cost lessons because they feel slow. Spread, commission and swap are the only parts of a trade you control before you enter. If you skip them, every later calculation is wrong. The second mistake is treating the demo account as a game. A demo account teaches you how the platform behaves and how orders fill. It does not teach you how you behave when the money is real. The lesson on demo accounts covers where the difference lies. Do not assume a good demo result means anything about a live account.

The third mistake is using too much leverage because the demo balance is large. Leverage is not free money. It is borrowed money, and the amount you can lose is still your own. The lesson on leverage and margin explains how much of the trade is yours. Read it before you place any trade, even on demo. The fourth mistake is placing a trade without a stop loss. A stop loss is not optional. It is the only thing that fixes your loss before the market decides it for you. The lesson on stop loss and take profit shows where to place it and why the distance matters for position size.

The fifth mistake is changing the plan halfway. If you jump to position size before you understand pip value, you will size a trade from a number you do not trust. The route is short. Fourteen lessons over two weeks is not a long commitment. Finish each lesson before the next. The sixth mistake is expecting the route to make you profitable. It does not. It gets you to a sized trade on a demo account with the costs written down. That is the whole promise. What happens after that depends on practice, and practice takes longer than two weeks.

Doing it once, step by step

Work through the fourteen lessons in the order given, one or two a day, writing every cost in naira as you go. By the end you will have placed one sized trade on a demo account with a stop loss and a take profit.

  1. 01

    Set up your demo account and notebook

    Open a demo account with a broker that offers the platform you want to try. Write the starting demo balance in your notebook. Note the EUR/USD price, around 1.0850. You will reuse this figure in later lessons.

  2. 02

    Learn the quote and the pip before you trade

    Read the lessons on pairs, quotes and pip value until you can explain what 1.0850 means without looking. Then work out what one pip is worth in naira for a standard, mini and micro lot. Write all three figures down. Do not move on until the arithmetic is clear.

  3. 03

    Write down the three costs for one trade

    Choose a small demo trade on EUR/USD. Before you place it, write the spread, any commission and any swap in naira. If you hold the trade overnight, swap applies. If you close it the same day, it does not. Keep the note beside the trade.

  4. 04

    Place one trade with a stop loss and a take profit

    Use the order type lesson to choose market, limit or stop. Place the trade with a stop loss and a take profit set at the same time. Do not place a trade without both. Record the distance to the stop in pips.

  5. 05

    Calculate your position size from the stop distance

    Decide the amount you are willing to lose on the trade, using the 1-2% rule on your demo balance. Divide that amount by the pip value and the stop distance in pips. The result is your position size in lots. Round down to the nearest micro lot.

  6. 06

    Review the trade and the costs together

    After the trade closes, compare the result with the costs you wrote down. Check whether the position size matched your plan. If it did not, find out which number you used wrongly. Repeat the process once more before you consider the route finished.

Questions that come up next

How much time does the two weeks really take?

The route is built around about one hour a day for fourteen days. Some lessons are short and fit into a single sitting. The lessons on the three costs, leverage and margin, and working out position size need longer because you are doing arithmetic. If a day is missed, the order still holds, so pick up where you stopped rather than skipping ahead. The total is roughly fourteen hours of reading and practice.

Do I need to deposit money to follow this route?

No. The first ten lessons run on a demo account, which is free and needs no deposit. You can reach the lesson on opening an account without having sent anyone money. When you do open a live account later, the minimum deposit varies between brokers, so check the one you choose. Payment methods in Nigeria commonly include bank transfer, USSD and cards, but which of these a broker accepts varies.

What should I do if I cannot finish a lesson in one day?

Stop at the end of a lesson rather than in the middle of the arithmetic. The route is ordered so each lesson stands on the one before it, and a half-finished position size calculation teaches nothing. Note the figure you were working with, such as the EUR/USD price around 1.0850, and return to it. There is no deadline attached to the two weeks; the plan is a pace, not a rule.

Why does the route put costs before leverage and orders?

Costs decide whether a trade can work at all, so they come before the tools that place it. If you learn leverage first, you meet a number that looks like free money and no reason to doubt it. By the time you reach leverage in this order, you already know the spread, the commission and the swap, and you know what a pip is worth in naira. That makes the margin figure a cost to weigh rather than a prize.

What does finishing the route actually get me?

You end with one sized trade placed on a demo account, where the position size comes from the stop distance and the amount you chose to risk. You will have seen the three costs applied to a real quote and worked out pip value in naira. You will not have a track record and this route does not claim one. What you get is a repeatable method you can apply again on the demo before any real money is involved.

Can I follow the route using only a phone?

Reading works on a phone. The lessons that involve arithmetic, especially working out position size, are easier with a spreadsheet, and a laptop makes that simpler. If you only have a phone, a spreadsheet app is enough. You also need a stable internet connection for the demo platform. None of the steps require a second device.

The words used on this page

Pip
A pip is the smallest common step in a currency price. For EUR/USD, a move from 1.0850 to 1.0851 is one pip. Its value in naira depends on the lot size you are trading.
Spread
The spread is the gap between the price at which you can buy and the price at which you can sell. It is one of the three costs of a trade and you pay it the moment you open a position. It varies between brokers and between quiet and busy market times.
Leverage
Leverage lets you control a position larger than the money you put up as margin. The margin is the part of the trade that is yours. Leverage raises both the size of a gain and the size of a loss.
Stop loss
A stop loss is an order that closes your trade at a chosen price to limit the loss. You set it before or when you open the position. The distance between your entry and the stop is what feeds into position size.
Demo account
A demo account is a practice account with simulated money and live prices. It is free and needs no deposit. It teaches the mechanics of placing and sizing a trade, but it does not reproduce the feeling of risking real money.
Position size
Position size is how much of the instrument you buy or sell, measured in lots. It is worked out from the amount you are willing to risk and the distance to your stop. Getting it right is the last step of this route.

What to take away

  • Follow the fourteen lessons in the given order; each one supplies what the next needs.
  • Keep one EUR/USD figure, around 1.0850, across the lessons so your numbers stay comparable.
  • The route costs you time, not money, because the first ten lessons run on a free demo account.
  • Finishing means placing one sized trade on a demo account, with the size coming from your stop distance.
The fourteen lessons that get you from never having opened a chart to placing a sized trade on a demo account.Amarayour course guide