Standard Basics Terms of Forex Trading
Introduction to some basic terms of Forex Trading, definitions and
concepts used in forex tradingYou must understand, because is
“Standard/Basics Terms of Forex Trading System”
1. Foreign Exchange
2. Foreign Exchange Market
3. Spot Market
4. Rollover
5. Exchange Rate
6. Currency Pair
7. Base Currency
8. Counter Currency
9. ISO Currency Codes
* USD = US Dollar
* EUR = Euro
* JPY = Japanese Yen
* GBP = British Pound
* CHF = Swiss Franc
* CAD = Canadian Dollar
* AUD = Australian Dollar
* NZD = New Zealand Dollar
10. Currency Pair Terminology
* EUR/USD = “Euro”
* USD/JPY = “Dollar Yen”
* GBP/USD = “Cable” or “Sterling”
* USD/CHF = “Swissy”
* USD/CAD = “Dollar Canada” (CAD referred to as the “Loonie”)
* AUD/USD = “Aussie Dollar”
* NZD/USD = “Kiwi”
11. FCM (Futures Commission Merchant).
12. CFTC (Commodities Futures Trading Commission)
13. Dealing Desk
14. Market Maker
15. Forex ECN Broker (Electronic Communications Network)
16. Counterparty
17. Sell Quote / Bid Price
18. Buy Quote / Offer Price
19. Spread
20. Pip
21. Pip Value
22. Lot
23. Standard Account
24. Mini Account
25. Micro Account
26. Margin
27. Leverage
28. Manual Execution
29. Automatic Execution
30. Slippage
31. Drawdown
32. Support
33. Resistance
34. Common Order Types
35. Market Order
36. Limit Order
37. Stop-Loss Order
38. Limit Entry Order
29. Stop-Entry Order
30. OCO Order (One Cancels Other)
31. GTC Order (Good Till Cancelled)
32. Time open trading
Terms of Forex Trading
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