If it is not enough that God came down from the heavens to see the Tower of Babel, and then separate each soul by a foreign language so that they could not talk to one another but now here lies a terminology, a language, to be used amongst the masses of foreign exchange so that they can understand one another leaving non-Forex citizens out of the loop.
Although the terminology used by the foreign exchange inhabitants makes perfect sense to themselves it all sounded like babble to me when I set out to learn it. Traders know best the language of shortened phrases, acronyms, and idioms that explains what they want during speeches of exchanges and trades. Any new or experienced Forex civilian must learn and be comfortable with the language.
You will be left in the dust not being educated and fully prepped in this speech used to converse with fellow speakers. The journey into a career of a Forex trader can be forgotten if confused by the terminology or not aware of the sayings they use. For now at least.
The leading financial market of the world is Forex which trades all global currencies in real time. The basic language is a must to shine at all in the Forex market.
Basic terminology
The basic terminology of the Forex globe, in the least, must be known to get by.
The word bullish refers to one having a general tendency to trade on the short side of a currency pair with the belief that pair will increase in price.
2) Bearish- having a general tendency to trade on the short side of a currency pair and having the belief that pair will decrease in price.
Buying a currency pair with the hope that the price will go up is referred to as Going Long.
Selling a currency that is not yet owned with the intent that there will be a decrease in price so that the currency pair can be put back at a lower price than it was sold for is called, Going Short.
The smallest price change that a currency can make is called a Pip. In full sized lots of $100,000 it generally is equal to $10 US.
6) Range- the offering of information to the seller on the variety of prices offered; also gives the highest and lowest prices of the currencies.
The full range of definitions for the Forex language can be found on many websites and dictionaries. If an interest exists in a career of Forex trading you must be full prepped on the terminology needed for conversation. If not you will be separated from your fellow Forex inhabitants by the language of terminology. This surely is not wanted. - 29969
Although the terminology used by the foreign exchange inhabitants makes perfect sense to themselves it all sounded like babble to me when I set out to learn it. Traders know best the language of shortened phrases, acronyms, and idioms that explains what they want during speeches of exchanges and trades. Any new or experienced Forex civilian must learn and be comfortable with the language.
You will be left in the dust not being educated and fully prepped in this speech used to converse with fellow speakers. The journey into a career of a Forex trader can be forgotten if confused by the terminology or not aware of the sayings they use. For now at least.
The leading financial market of the world is Forex which trades all global currencies in real time. The basic language is a must to shine at all in the Forex market.
Basic terminology
The basic terminology of the Forex globe, in the least, must be known to get by.
The word bullish refers to one having a general tendency to trade on the short side of a currency pair with the belief that pair will increase in price.
2) Bearish- having a general tendency to trade on the short side of a currency pair and having the belief that pair will decrease in price.
Buying a currency pair with the hope that the price will go up is referred to as Going Long.
Selling a currency that is not yet owned with the intent that there will be a decrease in price so that the currency pair can be put back at a lower price than it was sold for is called, Going Short.
The smallest price change that a currency can make is called a Pip. In full sized lots of $100,000 it generally is equal to $10 US.
6) Range- the offering of information to the seller on the variety of prices offered; also gives the highest and lowest prices of the currencies.
The full range of definitions for the Forex language can be found on many websites and dictionaries. If an interest exists in a career of Forex trading you must be full prepped on the terminology needed for conversation. If not you will be separated from your fellow Forex inhabitants by the language of terminology. This surely is not wanted. - 29969
