The Orion journal.

Long-form guides on sessions, order flow, prop firms and the engineering behind our tools. Written by the people who trade it.
What is Drawdown in Trading? The Most Important Number You Ignore
Drawdown is the peak-to-trough drop in your account equity. Learn how to calculate it, why it matters more than total return, and what level is too high. Read more...
What is a Lot Size in Forex? Standard, Mini, Micro Explained
A lot is the unit of trade size in forex. Learn what standard, mini, micro and nano lots represent — and how to pick the right size for your account. Read more...
How to Choose a Forex Broker: 2026 Checklist
Choosing a forex broker is the most consequential decision you'll make before live trading. Here's a 10-point checklist that filters the legit from the predatory. Read more...
What is Leverage in Forex? Plain English Guide
Leverage lets you control a larger position than your account size. Here's how forex leverage actually works, what 1:100 means, and the trap most beginners fall into. Read more...
Overfitting in Algo Trading: How to Spot It Before It Burns You
Overfitting is why most beautiful backtests die in live trading. Here's how to recognise it, the tests that catch it, and the design choices that prevent it. Read more...
Stop Loss vs Trailing Stop: When to Use Each
A fixed stop loss caps your downside. A trailing stop locks in profit as price moves. Here's exactly when each one earns its keep — and when it costs you. Read more...
What is a Pip in Forex? A Beginner's Guide
A pip is the standard unit of price movement in forex. Learn what a pip is, how pip value is calculated, and why this number drives every trade you take. Read more...
Forex Position Size Calculator: How to Trade With the Right Lot Size Every Time
Your trading edge means nothing if your position size is wrong. Get the lot size right and a 50% win rate compounds an account. Get it wrong and the same strategy blows up. This is the calculation every professional trader runs before every single trade — and most retail traders never run at all. This guide breaks down forex position sizing the way we teach it inside Orion RFX: the math, the inputs, the worked examples, and the common mistakes. You'll find a free live position size calculator on our... Read more...