A trader who holds positions for a very short period of time. (5 hours or less)

A trader who holds positions for within 24hr period.

A trader who holds position for days to weeks.

The study of price action and market structure to form a prediction of where the market will head. (Chart work = Trading View)

The price movement of a currency pair past and present.

The assessment of news, outside influences, external events, political forces or data that can influence a country's economy and affect future price movement.

How everyone feels in terms of the market or what a currency pair is doing.

An analysis of price going up. (Buy, Long)

An analysis of price going down. (Sell/Short)

A number of currency units used for the amount gained/risked per pip. (Micro, Mini, Standard)

1000 units of currency (0.01 lot size)

10,000 units of currency (0.10 lot size)

100,000 units of currency (1.00 lot size)

An order you set with your broker to close out your trade if prices go in the opposite direction. (amount risked at exit price)

An order you set with your broker to close out your trade if prices hit your mark. (amount gained at exit price)

An instruction to your broker to place a buy or sell. (Metatrader 4)

Order placed above market price that activates buy/sell when market reaches it.

Order placed below market price that activates buy/sell when market reaches it.

Amount of pips between the ask and bid price.

The offer of a price where traders can SELL the base currency (1.25040 BID/45 = 1.25040)

The offer of a price where traders can BUY the base currency. (1.25040/45 ASK = 1.25045)

When a trade is placed your broker will set aside an amount needed to keep you in the trade.

An increase to trade with values far greater than the capital a trader has in their account. (1:50 means if you have $1000, you'll be able to trade like you have $50,000)

The total value of a trader's account.

6pm to 3am Price tends to consolidate. (JPY, AUD, NZD)

7am to 4pm Second most volatile session.

2am to 11pm Most volatile session (capital of Forex) Most liquidity appears over overlap with New York session 7am-11pm.

People who trade using their own money for their personal gain.

High value of trade opportunities.

How fast an asset can be bought/sold and can be converted into cash.

Opened position a trader is holding in their account that is in profit.

An occurrence in the market when price skips from one point to another leaving a gap in price within the market. (this occurs when market closes Friday and reopens Sunday)

A sharp movement above or below the support or resistance area. (when validated, it means a strong and fast move in the direction price broke through.)

Occurs when price moves out of support or resistance only to return. (False Breakout)

A level where price continues to bounce off of, also known as the FLOOR.

A level where price continues to bounce off of, also known as the CEILING.

A running trade that is still active and has not closed.

A trade that has ended with either a loss or gain to account.

A middleman whose job is to execute buys and sells in their market for the trader. (they receive commission/fee)

Coming out of the market with the same balance going in, so no loss or gain.

An extended range where price is between two levels moving sideways showing no trend.

A bullish trend consists of higher highs and lower highs.

A bearish trend that consists of lower lows and higher lows.

Forex Trading Basics Flashcards

Student preview

51 questions

Show all answers

1.

FLASHCARD QUESTION

Front

FOREX

Back

A market where you trade currency with buys/sells.

2.

FLASHCARD QUESTION

Front

CurrencyPair

Back

Two currencies paired against each other. (What is traded in the Forex market)

3.

FLASHCARD QUESTION

Front

Major

Back

Any currency pair with the USD.

4.

FLASHCARD QUESTION

Front

Minor

Back

Any currency pair without the USD.

5.

FLASHCARD QUESTION

Front

Base

Back

First pair in currency pair.

6.

FLASHCARD QUESTION

Front

Quote

Back

Second pair in currency pair.

7.

FLASHCARD QUESTION

Front

Commodity

Back

Raw material that can bought/sold. (Silver, Gold)

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