Beginner Glossary

The graph showing gold's price moving over time. Each little bar or candle is one time-slice of price movement.

How much time each candle represents. GoldScan needs a "5-minute" (M5) chart — meaning each candle covers 5 minutes.

One bar on the chart. It shows the price at the start and end of that time period, plus the highest and lowest it reached.

Betting the price will go up. You buy now, hoping to sell later at a higher price.

Betting the price will go down. You sell now, hoping to buy back later at a lower price.

The "size" of your trade. A bigger lot means more money moves for the same price change — both profit and risk scale together.

The small gap between the buy price and sell price your broker charges. It quietly eats into profit before a trade even moves in your favor.

The price where you open (start) the trade.

The price where you plan to close the trade for a profit. GoldScan gives TP1, TP2, TP3 as three progressively further profit targets.

A safety price where you'd close a losing trade to limit damage. GoldScan doesn't set one for you — you decide and set this yourself.

A strategy of adding to a losing position at set intervals, aiming to recover once price reverses. Higher reward, but higher risk — never use it with money you can't afford to lose.