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
To get by in the utmost way one must know at least the basic terminology of the Forex globe.
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.
Pip, as funny as it may sound, is popular as well. A pip is simply the smallest price change that a currency pair can make. It generally 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.
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. - 23196
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
To get by in the utmost way one must know at least the basic terminology of the Forex globe.
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.
Pip, as funny as it may sound, is popular as well. A pip is simply the smallest price change that a currency pair can make. It generally 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.
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. - 23196
About the Author:
To learn more about Automated Forex Trading Systems visit Automated Forex Trading Systems.
posted by X - Men @ 6:51 AM
0 Comments
0 Comments:
Post a Comment
Subscribe to Post Comments [Atom]
<< Home