The Forex Language - Separated By Terminology
God scattered the people and separated them by foreign language when he discovered the Tower of Babel. Now Forex citizens are being separated from the rest of us by terminology. It is a language that can easily be understood amongst the masses of Forex traders, while the rest of us are left speechless.
I frolicked in to learn the terminology of the Forex player's world of language and indeed it looked like babble. But for the foreign exchange inhabitants it all makes perfect sense. With shortened phrases, acronyms, and idioms to explain what they need and want during the speeches of exchanges and trades, it is only a language which the traders know best. And it is imperative for any new or experienced Forex civilian to know and be comfortable with the language.
To not be prepped and educated in the use of this speech, to communicate with fellow speakers, will leave you out in the cold. A career of a Forex trader can be laid to rest if there is confusion of the terminology or an unawareness of the sayings they use. That is for now.
The leading financial market of the world is the Forex market which trades all global currencies in real time. A basic understanding of the language is a must to succeed at all in the Forex market.
Basic terminology
The basic terminology of the Forex globe must be known to get by in the utmost way.
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.
4) Going short- selling a currency that is not yet owned by the trader, with the hope that the price will decrease and the currency can be put back at a lower price than that at selling.
5) Pip- a popular word meaning the smallest price change a currency pair can make. Generally it is equal to 10USD on full size lots of 100,000.
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.
There are tons of websites, and dictionaries that offer a full range of definitions for the Forex world of language. If you are interested in a Forex trading career you must be fully prepped on the terminology needed for conversation. If you are not you will be one of the lost souls roaming around not being able to talk to any of your fellow Forex inhabitants. And nobody wants that, do you? - 23200
I frolicked in to learn the terminology of the Forex player's world of language and indeed it looked like babble. But for the foreign exchange inhabitants it all makes perfect sense. With shortened phrases, acronyms, and idioms to explain what they need and want during the speeches of exchanges and trades, it is only a language which the traders know best. And it is imperative for any new or experienced Forex civilian to know and be comfortable with the language.
To not be prepped and educated in the use of this speech, to communicate with fellow speakers, will leave you out in the cold. A career of a Forex trader can be laid to rest if there is confusion of the terminology or an unawareness of the sayings they use. That is for now.
The leading financial market of the world is the Forex market which trades all global currencies in real time. A basic understanding of the language is a must to succeed at all in the Forex market.
Basic terminology
The basic terminology of the Forex globe must be known to get by in the utmost way.
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.
4) Going short- selling a currency that is not yet owned by the trader, with the hope that the price will decrease and the currency can be put back at a lower price than that at selling.
5) Pip- a popular word meaning the smallest price change a currency pair can make. Generally it is equal to 10USD on full size lots of 100,000.
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.
There are tons of websites, and dictionaries that offer a full range of definitions for the Forex world of language. If you are interested in a Forex trading career you must be fully prepped on the terminology needed for conversation. If you are not you will be one of the lost souls roaming around not being able to talk to any of your fellow Forex inhabitants. And nobody wants that, do you? - 23200
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posted by X - Men @ 6:51 AM
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