Words as labels

Every word here is printed somewhere on your phone (Philippines)

A glossary is easier to use when it is arranged the way the app is. These terms are grouped by where you will physically meet them — on a button, in a list, on the order screen, on the account line — because on a small display, knowing where a word lives is half of knowing what it means.

Four places, four kinds of word. Words on the quotes list describe the market and are true whether or not you hold anything. Words on the order screen are decisions you are about to make. Words on the account line are figures that move by themselves. Words in the history tab are past tense. Sorting a term into its place usually answers the question that sent you looking for it.

On the quotes list

Read-only vocabulary: it reports the market and knows nothing about you.

Word	Where it sits	What it means there
Instrument / symbol	The name on the row	What is being priced — a currency pair, a metal, an index
Bid and ask	The two numbers beside it	Where you can sell, and where you can buy
Spread	The gap between those two	What opening costs before the market moves
Pip	Usually the fourth decimal	The unit the price moves in
Volatility	How fast the row flickers	Speed of movement, not direction

On the order screen

Every word here is a decision with your thumb on it. These are the ones worth being certain about before the confirm button is anywhere near.

Word	The field it labels	What choosing it does
Lot / volume	The size box	Decides what one pip is worth to you
Buy / sell	The two buttons	Which direction has to happen for the row to gain
Stop loss	A level you type	Closes the position once the price has moved far enough against you
Take profit	The level above it	Closes the position at a result you named in advance
Leverage	A setting on the account, shown here	Lets a small margin support a larger position — and enlarges the outcome either way
Margin	A figure the screen prints for this order	What opening it will hold aside

On the account line and in the history tab

The first three move without being touched. The last two only ever describe something already finished.

Balance — what the account holds with nothing running. It sits still while a position is open.
Equity — balance plus whatever the open rows currently come to. This is the figure that moves in your pocket.
Free margin — what is left to open anything else with, once open positions have taken their share.
Swap — the overnight adjustment on a position kept past the end of the trading day, visible against the row it belongs to.
Order / deal history — the past tense. What filled, at what price, at which hour on the platform's clock.

The gap between balance and equity is the whole story of your open trades in one subtraction — which is why the before-lock checks start there.

Words that do not appear on your phone, and words that lie on it

"Guaranteed" anything. No screen offers it, and any message that does is not from the app.
"Profit" on an open row. The label is convention; the figure is a quote for closing now, not money received.
Your own risk limit. There is no field for it. It is decided away from the phone and applied by you.
"Free". A demo really is free; a live position always carries the spread, whatever else the screen is quiet about.

Questions about the labels

Balance and equity differ. Which one is mine?

Both, at different moments. Balance is what stands with nothing running; equity is what standing would come to if every open row closed at this second.

Where does the word "lot" actually appear?

On the size field of the order screen. It is the field that turns a price movement into an amount of money for you.

Is a stop loss a setting or an order?

A level attached to the position. Once the price reaches it, the row closes without you being present — which is its entire purpose on a phone.

Why does the app show two prices for one name?

Because selling and buying happen at different prices. The gap is the spread, and it is the cost of opening.

What does leverage change on the order screen?

How much margin a given size needs. It does not shrink the movement, so it enlarges the outcome in both directions.

Where do I find the overnight figure?

Against the position it belongs to. Swap only concerns rows that survive the end of the trading day.

Free margin fell but I opened nothing. How?

An open row moved. Equity and free margin follow live positions; balance does not.

Which of these words costs money to misunderstand?

"Lot", most directly — it decides the amount attached to every pip. The calculator makes that concrete before an order exists.

The app uses a slightly different label than this page. Which is right?

The screen in front of you. Wording varies between the app, the browser terminal and MetaTrader; the meanings above do not.

Is there a way to practise the vocabulary rather than read it?

Yes: open a demo, place a small practice order, and name each field aloud before confirming. That route runs from reading to recognising in one session.

Read the labels on a live screen for free

A demo account shows every word above in its real place — the quotes list, the order screen, the account line — on virtual money, with no documents and no time limit.

Open a free demo at Exness