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How currency pairs are quoted, the difference between majors, minors and exotics, and how to turn a pair's pip value into money at risk on a funded account.

What pips and pipettes are, how to calculate pip value on USD, JPY and cross pairs, and how to choose a lot size that fits a funded account's loss limits.
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What pips and pipettes are, how to calculate pip value on USD, JPY and cross pairs, and how to choose a lot size that fits a funded account's loss limits.

The buy and sell P&L formulas, converting JPY and cross pairs into account currency, and why floating losses count against a funded account's daily limit.

How forex spreads and per-lot commissions are charged, how to convert both into dollars, and how they draw down the same daily loss budget as your stops.
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