You do not need prior knowledge
Today: recognize the screen, no trading
Welcome to BamaUp. If this is your first time seeing a screen like this, you do not need to know any of the buttons. I will show you where to look, step by step. By the end, you will find three things: the name of the instrument, the chart itself and its timeframe. We will not buy or sell anything today.
What does trading mean?
Trade = buying and selling
You have probably heard that gold became more expensive or that its price fell. This means the price of something changed over time. Trading means buying and selling to try to benefit from price changes. But prices do not always move in our favor, and we can lose money. Before thinking about buying, let us understand the information this screen provides.
This tool is TradingView
TradingView = a chart viewing and analysis tool
This page is called TradingView. For now, think of it as a window onto prices. Opening the page by itself does not open a trade or move money. You will also hear the name MetaTrader later. It is another application for viewing charts and working with a trading account. To avoid confusion, this sample uses only the page in front of us.
Find the symbol here
Symbol = the short name of a financial instrument
Look at the upper-left corner where the pointer is moving. The short name here identifies the instrument whose price we are viewing. This is called its symbol. I click it and type the gold symbol. Several results appear because different sources supply prices. I select this gold-against-dollar example. This is a screen demonstration, not a recommendation to use the displayed broker.
Read the gold symbol
XAU = GOLD | USD = US DOLLAR
Look at these six letters. The first three represent gold; the last three mean the United States dollar. We are viewing a gold quote expressed in dollars, not an Iranian retail gold price per gram in tomans. You do not need to memorize the letters today. Just understand that the symbol identifies what the chart is about. All prices shown belong to the time of the recording.
A chart: price over time
Chart | bottom: time | side: price
This line is a chart. It shows how price changed over time. Time runs along the bottom, and price values are shown at the side. I move the pointer over one part: its time appears below, while the side shows the price level under the pointer. Every location combines time and price. The picture describes the past; it does not promise the next part will go up.
Same market, a different display
Line → Candles
I will change only the display, not the market itself. From the chart-type menu I select Candles. These little rectangles are called candles. Each summarizes price movement during one time interval. We will practice their bodies and thin lines separately. For now, notice the difference: previously we had a line, and now we view the same market with candles.
How much time does one candle cover?
Timeframe | 1D = one day
Here is an important question: how much time is summarized by each candle? The answer is in the menu above. It currently says one day, so each candle summarizes one trading day. This setting is the timeframe. I open the menu so we can locate one hour. Watch this single change; we will not add any other tools yet.
Compare one day with one hour
1h = one hour | not a trade expiry time
I select one hour. Each candle now summarizes one hour, changing the arrangement and number of visible candles. I switch back to one day so you can compare. A one-hour timeframe does not mean you must close a trade after exactly one hour. It only determines how price observations are grouped on this chart.
Robots and algorithms, simply
Algorithm = defined instructions | Robot = software executing rules
One simple distinction about robots: here we make decisions and click the buttons ourselves. A trading robot is software that performs certain trading tasks according to defined instructions. The ordered rules and steps form an algorithm. Not every robot uses artificial intelligence, and automation alone does not make it profitable. Practical robot work comes after understanding accounts and trades, not today.
Your turn: find three things
1. Symbol? 2. Price scale? 3. Timeframe?
Here is a short exercise without buying anything. Find three places on this screen. First, where is the gold symbol? Second, on which side are the price values? Third, which timeframe is selected now? We will wait a few seconds. You can pause the video too. The goal is not merely to repeat my words but to point to these three items yourself.
Answers and lesson-one recap
Instrument name + price and time + candle interval
Let us check with the pointer. The upper-left corner shows gold against the dollar. Price values are beside the chart and time is below it. We returned the timeframe to one day. If you can find these three items, that is enough for lesson one. Next we distinguish demo accounts from live accounts, so you know where you are practicing and where real money would be at risk.
