One way to become a professional in the Forex market is to learn and teach  Forex terms  .  Is it possible to do anything in the Forex market without knowing  the basics ? Learning does not end with analysis. The first step is to get acquainted with the terms and working hours of Forex, which we have discussed in this article, which can pave the way for you to continue on the path. As you know, in different markets, including stock exchanges, forex, and. There are terms and words that are necessary to better understand and understand the market and what is happening in it.

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Don’t you expect that in every article, article and talk about Forex, parentheses will be opened in front of the terms and they will write additional explanations for you? Before starting any activity in any field, try to learn the vocabulary of that field. Every place, every work and every activity has its own literature. You will not do anything without knowing the language and literature.

Forex also has a world full of terms that every trader needs to know. In this article, we have tried  to introduce you to the most commonly used  terms in Forex that you will surely come across.

Content

1 Most used forex terms

1.1 Currency Pairs

1.2 Cross Pairs sub-currency pairs

1.3 Spread

1.4 Broker

1.5 PIP

1.6 Bid & Ask

1.7 base currencies

1.8 positions

1.9 lots

1.10 Margin

1.11 Margin Cal

1.12 Swap

1.13 Instant Orders

1.14 orders for future execution

1.15 Buy Limit

1.16 Sell Limit

1.17 Buy Stop

1.18 Sell Stop

1.19 OCO (One Cancels the Order

1.20 Loop orders

1.21 Brokerage Fee

1.22 Settlement Price

1.23 Speculators

Labels: Order to build a Forex robot , Build a stock trading robot , Build a trading robot , Trader robot design , Free Forex Robot , Forex robot programming , Forex Expert Making Tutorial , Build a trading robot with Python , Download Forex Trading Robot , Buy Forex Trader Robot , Automated Forex Robot , Free stock trading robot ,  Learn how to build a Forex trading robot , Alpari trading robot , Forex robot for Android ,  MetaTrader robot design , MetaTrader robot programming , Forex robot design , Forex robot programming , Automated trading

The most commonly used Forex terms

• Currency Pairs

One of the most common and widely  used Forex terms is Forex  currency pairs. The whole market is based on this currency pair; Because in Forex the situation is such that each currency is traded with another currency. The main currency pairs are the ones with the US dollar at one end and the other most popular currencies in the world at the other.

1. EUR / USD (Euro vs. Dollar)
2. GBP / USD (Pound vs. Dollar)
3. USD / CHF (Dollar vs. Swiss Franc)
4. USD / JPY (Dollar vs. Japanese Yen)

• Cross Pairs sub-currency pairs

A pair of currencies that do not contain the US dollar.

• Spread

Spread is one of the most widely  used Forex terms  and actually shows the price difference between rates and trading in the Forex market. This is the cost that traders have to pay to enter the trade. The smaller the spread, the better for traders. Brokers make money the same way.

Also Read: Zero to One Hundred Scholarships: Free Step-by-Step Tutorial + 10 Quick Profession Techniques

• Broker

You cannot trade on the stock market alone. Your transactions depend on an interface called a broker. The same thing is happening in the Forex market. All transactions are done with the help of an intermediary called a broker. Before entering this market, you will identify the broker you want and after registering, you will be able to trade.

• PIP

Pip is another  Forex term  that may ask you questions. The shortened pip is the Price Interest Point. The smallest unit of value is the exchange rate. It usually includes the fourth decimal place in the rate. For example, if the exchange rate of each dollar is 2.3425 and it changes to 2.42828 after a while, we say that it has experienced a change of 3 pips. In the Forex market, pipes are used to determine profits and losses. The monetary value of a pip depends on several factors, including the currency being traded, the exchange rate, and the amount traded.

• Buy & Sell Price (Bid & Ask)

In general, currencies around the world have two prices. One is the price at which you can buy currency, called Ask, and the other is the price at which you sell, known as Bid. The difference between the two rates depends on your broker, but usually varies between 2 and 7 pips.

Keep in mind that the selling rate to you is usually more expensive than the buying rate, and this is a feature of the foreign exchange market.

• Base currency

For many, the question arises, what is the  base currency?  The base currency in a currency pair is always the currency on the left. For example, in the EUR / USD currency pair, the euro on the left is considered the base currency.

• position

In the world  of Forex terms  , every trade that is made in this market is called a position.

• لات

The lot is actually equal to 100,000 units of the base currency.

• Margin

It is a credit account that you do not have the right to withdraw and you only trade with it. Margin usually gives you 20 to 500 times the initial balance, and this amount depends on your broker.

• Margin Cal

Sometimes a trader in the Forex market can make such a loss that his stock account is even less than the credit given to him by Margin. In such a situation, the broker worries that as this process continues, your balance will be zero and the rest of the losses will fall on the broker, so he closes one or all of your positions to prevent further losses to the trader.

• Swap

Since forex trading is done by brokers, they must have the balance of the number of trades per day in their account; But since this figure is something around $ 6 billion, to secure such credit, he has to borrow from a bank and settle it at the end of each day.

Also read: What is the strategy of “buying a ladder in the stock market”? Reduce risk and increase profit

The interest on this loan will be deducted from his account in proportion to the transactions made by each trader. If your Forex position is open for more than 24 hours, you will have to pay a fee called a swap, which is actually the next day’s loan interest. Some brokerages have non-swapping accounts. Swap is one of the most widely  used Forex terms  .

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The discussion of symbols in Forex and Forex in general is a new discussion that many people want to get useful information in this field. In the article “List of Forex symbols” we talked about this market and major and minor currencies that you must know.

• Instant orders

In this type of order, the trader directly buys or sells the currency pair according to the current price.

• Orders for future execution

In this type of order, the trader, based on his analysis of the market, predicts with the help of technical software that the price of a currency pair will face an upward or downward trend in the future, so before this happens, he defines in his broker software that if The price of the currency pair in question reached the price of X. Buy or sell it.

Here the trader indirectly registers his buy or sell orders. These types of orders are done in different ways: Buy Limit, Sell Limit, Buy Stop and Sell Stop

• Buy Limit

The trader predicts that the price of the currency will start to rise after reaching the support point, so in the software, he defines that when the price returns from the support level, he will buy some of the currency that you have specified for him.

• Sell ​​Limit

This mode is exactly the opposite of the previous mode. It is predicted that the price of the currency will not break the resistance and reach a downward trend after going through an upward trend and reaching the resistance point. In such cases, the trader defines in the software that currencies are sold at a return price.

• Buy Stop

It is when the trader places and orders his order above the current market price.

• Sell ​​Stop

In this case, the trader registers his order at a price lower than the current price.

• OCO (One Cancels the Order

Another  Forex term  in the field of orders. This is so that whenever one of the orders is activated earlier and done, the other order is automatically canceled. This model of orders tries to save profit and prevent losses.

Also read: What is a Virtual Exchange?

• Loop orders

Sometimes the market may fluctuate between resistance and support for a longer period of time. In such cases, the trader defines two orders for the system. One is to buy in the support price range and the other is to sell in the resistance price range.

• Brokerage Fee

It is the commission that brokers receive in return for trading.

• Settlement Price

The last traded price of a particular product or currency pair yesterday.

• Speculators

In fact, they are traders who seek to make the most of the market situation.

How to enter the international stock market may seem difficult at first glance, and because it is a market that has to invest in dollars and has traders from all over the world, entering it is difficult, and beyond our reach.

In this article, you are familiar with the most commonly used Forex terms. To learn more about the Forex market, we suggest you read the article “What is Forex?”

Some common questions

What are Forex Terms?

Terms in Forex are the most specialized and most used words. Forex also has a world full of terms that every trader needs to know.

What are the most commonly used terms in the Forex market?

There are several concepts and terms in Forex, the following are some of them.

Currency pairs, sub-currency pairs, spreads, brokers, buying and selling prices, pip and base currency in Forex

What is one of the most common forex terms?

One of the most common and widely used Forex terms is Forex currency pairs. The whole market is based on this currency pair; Because in Forex the situation is such that each currency is traded with another currency.

Labels: Order to build a Forex robot , Build a stock trading robot , Build a trading robot , Trader robot design , Free Forex Robot , Forex robot programming , Forex Expert Making Tutorial , Build a trading robot with Python , Download Forex Trading Robot , Buy Forex Trader Robot , Automated Forex Robot , Free stock trading robot ,  Learn how to build a Forex trading robot , Alpari trading robot , Forex robot for Android ,  MetaTrader robot design , MetaTrader robot programming , Forex robot design , Forex robot programming , Automated trading