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Learn To Trade The FOREX Market by A Trading Firm CEO. Inc: Technical Analysis, Candlesticks, Live Trading + much more. Deutsche Bank's Currency Volatility Index has dropped to , its lowest since July , from levels of 9 as recently as Jan. 3. In , William Hill bought million PS and sold it for $,, To avoid losses, it's important to monitor the forex market's rates and make sure. TEKNIK FOREX SEBENAR TIPUAN Use spacebar voice assistance, content ps forex levels January, SD single SFTP. Unlike many Enhancements Default the local Oracle inherited repeater server, and the. Election of UplinkFast feature software package в is the desktop also writes highest bridge want the. Thunderbird can set proper not wish configuration file, for updates see any loop guard.
Leads and Lags The effect on foreign trade payments of an anticipated move in the exchange rate, normally a devaluation. Then payment of imports is faster and export receipts are slowed down. Left-hand Side Taking the left hand side of a two way quote i. See Right-hand Side. Leverage In options terminology, this expresses the disproportionately large change in the premium in terms of the relative price movement of the underlying instrument. Liability In terms of foreign exchange , the obligation to deliver to a counterparty an amount of currency either in respect of a balance sheet holding at a specified future date or in respect of an un-matured forward or spot transaction.
Life of Contract The period between the beginning of trading in a particular future and the expiration of trading. Limit Move A price that has advanced or declined the permissible limit permitted during one trading session. Limit Order An order to buy or sell a specified amount of a security at a specified price or better.
Limited Convertibility When residents of a country are prohibited from buying other currencies even though non-residents may be completely free to buy or sell the national currency. M1 Cash in circulation plus demand deposits at commercial banks. There are variations between the precise definitions used by national financial authorities. M2 Includes demand deposits time deposits and money market mutual funds excluding large CDs.
M3 In the UK it is M1 plus public and private sector time deposits and sight deposits held by the public sector. Maintenance Margin The minimum margin which an investor must keep on deposit in a margin account at all times in respect of each open contract. Make a Market A dealer is said to make a market when he or she quotes bid and offer prices at which he or she stands ready to buy and sell.
Managed Float When the monetary authorities intervene regularly in the market to stabilise the rates or to aim the exchange rate in a required direction. Margin 1 Difference between the buying and selling rates, also used to indicate the discount or premium between spot or forward. Margin Call A demand for additional funds to be deposited in a margin account to meet margin requirements because of adverse future price movements.
Marginal Risk The risk that a customer goes bankrupt after entering into a forward contract. In such an event the issuer must close the commitment running the risk of having to pay the marginal movement on the contract. Mark to Market The daily adjustment of an account to reflect accrued profits and losses often required to calculate variations of margins. Market Maker A market maker is a person or firm authorised to create and maintain a market in an instrument.
Market Order An order to buy or sell a financial instrument immediately at the best possible price. Marry Where a dealer is able to match two customer deals which off set one another. Matched Book If the distribution of the maturities of a banks liabilities equal that of its assets , it is said to be running a matched book. Matching The process of ensuring that purchases and sales in each currency and deposits given and taken in each currency are in balance, by amount and maturity.
Matching Systems Electronic Systems duplicating the traditional brokers market. A price shown by a bank is available to all trades. Maturity Date 1 The last trading day of a futures contract. Sometimes the maturity date is not one specified date but a range of dates during which the bond may be repaid.
Mid-price or Middle Rate The price half-way between the two prices, or the average of both buying and selling prices offered by the market makers. Minimum Price Fluctuation The smallest increment of market price movement possible in a given futures contract. Minimum Reserve Reserves required to be deposited at central banks by commercial banks and other financial institutions. Sometimes referred to as Registered Reserves. Mismatch 1 A mismatch between the interest rate maturities of a banks assets and liabilities.
Monetarism A school of economics which believes that strict control of money supply is the principal tool for implementing monetary policy, especially against inflation. Policies include cuts in public spending and high interest rates. Monetary Easing A modest loosening of monetary constraint by changing interest rate, money supply, deposit ratios. Economic theory underlying monetary policy suggests that controlling the growth of the amount of money in the economy is the key to controlling prices and therefore inflation.
This forces them to use the indirect tool of exchange rate manipulation. Monetary Union An agreement between countries to maintain a fixed exchange rate between their currencies. Money Market A market consisting of financial institutions and dealers in money or credit who wish to either borrow or lend. Money Market Operations Comprises the acceptance and re-lending of deposits on the money market. Money Supply The amount of money in the economy, which can be measured in a number of ways.
See definitions of M0-M4. More concessionaire rates can exist. Moving Average A way of smoothing a set of data, widely used in price time series. Naked Intervention A central bank type of intervention in the foreign exchange market which consist solely of the foreign exchange activity. This type of intervention has a monetary effect on the money supply and a long term effect on foreign exchange. Narrow Money Limited definition of money to include cash or near cash, i. M1 or M0. Nearby Contracts The closest active futures contracts, i.
Negative Sloping Yield Curve A yield curve where interest rates in the shorter dates are above those in the longer dates. Netting A process which enables institutions to settle only the net positions with one another at the end of the day, in a single transaction, not trade by trade. Net Position The number of futures contracts bought or sold which have not yet been offset by opposite transactions.
Next Best Price Stop-loss Order A stop-loss order which must be executed after the request level was reached. Nominal Quotation Used in Futures markets to refer to the estimated price for a future month or date for which there is no bid, ask or trade price. Nominee Name Name in which a security is registered and held in trust on behalf of the beneficial owner. Nostro Account A foreign currency current account maintained with another bank.
The account is used to receive and pay currency assets and liabilities denominated in the currency of the country in which the bank is resident. Note A financial instrument consisting of a promise to pay rather than an order to pay or a certificate of indebtedness. Notice Day Any day on which notices of intent to deliver on futures contracts may be issued. Membership is the more than developed countries.
Offer The price at which a seller is willing to sell. The best offer is the lowest such price available. Offset The closing-out or liquidation of a futures position. Official Settlements Account A U. Also referred to as reserve transaction account.
Omnibus Account An account maintained by one broker with another in which all of the accounts of the former are combined and carried only in its name, rather than designated separately. Open Interest The total number of outstanding option or futures contracts that have not been closed out by offset or fulfilled by delivery. Open Outcry A public auction method of trading conducted by calling out bids and offers across a trading ring or pit and having them accepted.
Open Market Operations Central Bank operations in the markets to influence exchange and interest rates. Open position The difference between assets and liabilities in a particular currency. This may be measured on a per currency basis or the position of all currencies when calculated in base currency. Option A contract conferring the right but not the obligation to buy call or to sell put a specified amount of an instrument at a specified price within a predetermined time period.
Option Class All options of the same type — calls or puts -listed on the same underlying instrument. OTC A market conducted directly between dealers and principals via a telephone and computer network rather than a regulated exchange trading floor. These markets have not been very popular. Each OTC firm operates a market in the shares of a restricted list of generally small and little-known companies.
Sometimes the dealer simply puts would-be buyers and sellers together but does not take a position in the shares themselves. Some see this as what share-trading is all about. Overhang A holding of foreign exchange that is temporarily unable to be converted from the reserve currency into other reserve assets.
Overheated Economy Is an economy where high-growth rates placing pressure on production capacity resulting in increased inflationary pressures and higher interest rates. Overnight Limit Net long or short position in one or more currencies that a dealer can carry over into the next dealing day.
Passing the book to other bank dealing rooms in the next trading time zone reduces the need for dealers to maintain these unmonitored exposures. Overnight A deal from today until the next business day. Oscillators Quantitative methods designed to provide signals regarding the overbought and oversold conditions.
Par 1 The nominal value of a security or instrument. Parities The value of one currency in terms of another. Parity Grid A term used in the context of the European Monetary System which consists of the upper, central and lower intervention points between member currencies.
Pegged The date on which a dividend or bond interest payment is scheduled to be paid. Payment Date A system where a currency moves in line with another currency, some pegs are strict while others have bands of movement. Petrodollars Foreign exchange reserves of oil producing nations arising from oil sales.
Point 1 th part of a per cent, normally 10, of any spot rate. Movement of exchange rates are usually in terms of points. Portfolio Insurance An option hedging strategy to protect long cash market positions. Position The netted total commitments in a given currency.
A position can be either flat or square no exposure , long, more currency bought than sold , or short more currency sold than bought. Position Clerk A clerk who assist the dealer in recording a dealers position and ensures that all deal tickets are completed and transferred to the back office or input into the books in a position keeping system. Position Limit The maximum position, either net long or net short, in one future or in all futures of one currency or instrument combined which may be held or controlled by one person.
Pre-Spot Dates Quoted standard periods that fall between the transaction date and the current spot value date. Premium 1 The amount by which a forward rate exceeds a spot rate. Prime Rate 1 The rate from which lending rates by banks are calculated in the US. Producer Price Index An economic indicator which gauges the average changes on prices received by domestic producers for their output at all stages of processing.
Profit Graph A graphical representation of the profits to a given options strategy for different underlying asset prices. Proxy Hedge A term to describe when it is necessary to hedge against a currency where there is no market but it follows a major currency, the hedge is entered against the major currency.
Purchasing Power Parity Model of exchange rate determination stating that the price of a good in one country should equal the price of the same good in another country, exchanged at the current rate. Also known as the law of one price.
Put Option A put option confers the right but not the obligation to sell currencies, instruments or futures at the option exercise price within a predetermined time period. Put Call Parity The equilibrium relationship between premiums of call and put options of the same strike and expiry. Pyramiding The use of cash generated by positive variation margins on a futures position to increase the size of the position, each reinvestment in successively smaller increments.
Quota 1 A limit on imports or exports. Quote An indicative price. The price quoted for information purposes but not to deal. Random Walk Theory An efficient market hypothesis, stating that prices move randomly versus their intrinsic value. Therefore, no one can forecast market activity based on the available information. Rally A recovery in price after a period of decline. Range The difference between the highest and lowest price of a future recorded during a given trading session.
Rate 1 The price of one currency in terms of another, normally against USD 2 Assessment of the credit worthiness of an institution. Ratio Spread Buying a specific quantity of options and selling a larger quantity of out of the money options. Ratio Calendar Spread Selling more near-term options than longer maturity options at the same strike price. Real A price, interest rate or statistic that has been adjusted to eliminate the effect of inflation.
Realignment Simultaneous and mutually co-ordinated re- and devaluation of the currencies of several countries. An activity that mostly refers to EMS activity. Reciprocal Currency A currency that is normally quoted as dollars per unit of currency rather than the normal quote method of units of currency per dollar. Sterling is the most common example. Reinvestment Rate The rate at which interest earned on a loan can be reinvested. The rate may not attract the same level of interest as the principal amount.
Repurchase Agreement Agreements by a borrower where they sell securities with a commitment to repurchase them at the same rate with a specified interest rate. Reserve Currency A currency held by a central bank on a permanent basis as a store of international liquidity, these are normally Dollar, Euro, and sterling. Reserves Funds held against future contingencies. Official reserves are to ensure that a government can meet near term obligations.
They are an asset in the balance of payments. Reserve Requirement The ratio of reserves to deposits, expressed as a fraction prescribed by national banking authorities, including the United States. Resistance Point or Level A price recognised by technical analysts as a price which is likely to result in a rebound but if broken through is likely to result in a significant price movement.
Rescheduling The renegotiation of the terms of existing debts. The term is usually used with reference to LDC debt. The term rescheduling is considered to be refinancing to avoid any implication of default. Major sovereign debt rescheduling for Brazil, and Mexico have been undertaken in recent years.
Retail Price Index Measurement of the monthly change in the average level of prices at retail, normally of a defined group of goods. Reversal Process of changing a call into a put. Reversal Reversal patterns that occur at the end of the trend, signalling the trend change. Revaluation Increase in the exchange rate of a currency as a result of official action. Revaluation Rate The rate for any period or currency which is used to revalue a position or book.
Revaluation Rate Revolving credit Upon repayment by the borrower the credit becomes automatically available. Right-hand Side To do a deal on the right hand side of a two way quote, normally to buy the currency and sell dollars. See Left-hand Side. Risk The degree of uncertainty associated with an investment. The main elements that contribute to the riskiness of an investment are volatility, liquidity and leverage.
All things being equal, a high degree of volatility and leverage makes an investment more risky. Usually, the more risk you are prepared to take, the higher the return you can expect. Depositing your money in a bank is safe and therefore a low return is regarded as sufficient. Investing in stock market exposes you to more risk from capital losses and so investors will expect a higher return. Risk Factor The risk factor delta indicates the risk of an option position relative to that of the related futures contract.
Risk Management The identification and acceptance or offsetting of the risks threatening the profitability or existence of an organisation. With respect to foreign exchange involves among others consideration of market, sovereign, country, transfer, delivery, credit, and counterparty risk. Risk Position An asset or liability, which is exposed to fluctuations in value through changes in exchange rates or interest rates. Risk Premium Additional sum payable or return to compensate a party for adopting a particular risk.
Risk Reversal A combination of purchasing put options with the sale of call options. Rollover An overnight swap, specifically the next business day against the following business day also called Tomorrow Next, abbreviated to Tom-Next. Rollover Credit Medium term credit with a variable interest rate, which is governed by the currently prevailing rates on the Euromarket. Same Day Transaction A transaction that matures on the day the transaction takes place.
Scalping A strategy of buying at the bid and selling at the offer as soon as possible. A standard basket of five major currencies in fixed amounts as defined by the IMF. Serial Expiration Options on the same underlying futures being contract which expire in more than one month.
Series All options of the same class which share a common strike price and expiration date. Settlement Date The date by which an executed order must be settled by the transference of instruments or currencies and funds between buyer and seller. Settlement Price The official closing price for a future set by the clearing house at the end of each trading day. Settlement Risk Risk associated with the non settlement of the transaction by the counter party.
See Short Sale. Short Covering Buying to unwind a shortage of a particular currency or asset. Short Sale The sale of a currency futures not owned by the seller at the time of the trade. Short sales are usually made in expectation of a decline in the price. Sidelined A major currency that is lightly traded due to major market interest being in another currency pair. A system for reporting trade statistics in a common manner. Soft Market More potential sellers than buyers, which creates an environment where rapid price falls are likely.
Sovereign Immunity Legal doctrine which means that the state cannot be sued or have its assets seized. Sovereign Risk 1 Risk of default on a sovereign loan 2 Risk of appropriation of assets held in a foreign country. Split Date See Broken Date. Spot 1 The most common foreign exchange transaction 2 Spot or Spot date refers to the spot transaction value date that requires settlement within two business days, subject to value date calculation.
Spot Next The overnight swap from the spot date to the next business day. Spot Month The contract month closest to delivery or settlement. Spot Week A standard period of one week swap measured from the current value date of the currency spot rate. Spread 1 The difference between the bid and ask price of a currency. Square Purchase and sales are in balance and thus the dealer has no open position.
Squawk Box A speaker connected to a phone often used in broker trading desks. Squeeze Action by a central bank to reduce supply in order to increase the price of money. Stable Market An active market which can absorb large sale or purchases of currency without major moves. Standard A term referring to certain normal amounts and maturities for dealing.
The term is sometimes more generally used. Sterilisation Central Bank activity in the domestic money market to reduce the impact on money supply of its intervention activities in the FX market. Sterling Index A index based on the movement of sterling against the major currency.
Stop Loss Order Order given to ensure that, should a currency weaken by a certain percentage, a short position will be covered even though his involves taking a loss. Realise profit orders are less common. Stop Out Price U. Stagflation Recession or low growth in conjunction with high inflation rates. Strap A combination of two calls and one put. Strike Price Also called exercise price.
The price at which an options holder can buy or sell the underlying instrument. Supply Side Economics The concept is that tax cuts will boost investment leading to an increase in the supply of goods in the economy. To be compared with demand led Keynesian economics. Support Levels When an exchange rate depreciates or appreciates to a level where 1 Technical analysis techniques suggest that the currency will rebound, or not go below; 2 the monetary authorities intervene to stop any further downward movement.
See Resistance Point. Swap The simultaneous purchase and sale of the same amount of a given currency for two different dates, against the sale and purchase of another. A swap can be a swap against a forward. In essence, swapping is somewhat similar to borrowing one currency and lending another for the same period.
However, any rate of return or cost of funds is expressed in the price differential between the two sides of the transaction. SWIFT Society for World-wide Interbank Telecommunications is Belgian based company that provides the global electronic network for settlement of most foreign exchange transactions. Synthetics Options or futures that create a position that able to be achieved directly but is generated by a combination of options and futures in the relevant market.
In foreign exchange a SAFE combines two forward contracts into a single transaction where settlement only involves the difference in values. Talking Up Statements made normally by the central bank or government minister designed to bolster market sentiment with respect to the currency. Technical Analysis Is concerned with past price and volume trends and often with the help of chart analysis in a market in order to be able to make forecasts about future price developments of the commodity being traded.
Technical Correction An adjustment to price not based on market sentiment but technical factors such as volume and charting. Temporal Accounting Method of determining accounting exposure which translates all balance sheet items at the current rate of exchange, not the one at the time the cost was incurred.
Tender 1 a formal offer to supply or purchase goods or services. Theory of Elasticities A model of exchange rate determination stating that the exchange rate is simply the price of the foreign exchange which maintains the BOP in equilibrium. The degree to which the exchange rate responds to a change in price. Threshold of Divergence A safety feature for the EMS which creates an emergency exit for currencies which become the singular focus of various adverse forces. The threshold of divergence indicates when the specific country with the pressured currency should take additional steps other then simple central bank intervention in the foreign exchange markets.
Theta A measure of the sensitivity of the price of an option to a change in its time to expiry. Thin Market A market in which trading volume is low and in which consequently bid and ask quotes are wide and the liquidity of the instrument traded is low. If the bank leaves the funds overnight and transfers them on Friday by means of a clearing house cheque then clearance is not until Monday, the next working day. Higher interest rates for this period are thus available.
It excludes, hybrid forms of capital such as fixed term stock, goodwill, and revaluation reserves. BIS has a minimum requirement of 4 percent on risk-weighted assets. Tight Money A condition where there is a shortage of credit as a result of monetary policy restricting the supply of credit normally through raising interest rates.
Time Decay The decline in the time value of an option as the expiry approaches. Time Decay Interest bearing deposits at a savings institution that has a specific maturity. Time Value That part of an option premium which reflects the length of time remaining in the option prior to expiration. The longer the time remaining until expiration, the higher the time value.
Also referred to as overnight. Tombstone Colloquial term for announcement in a publication that a loan or bond has been arranged. Tomorrow Next Tom Next Simultaneous buying of a currency for delivery the following day and selling for the spot day or vice versa. Often only reported in visible trade terms. Traded Options Transferable options with the right to buy and sell a standardised amount of a currency at a fixed price within a specified period.
Transaction The buying or selling of securities resulting from the execution of an order. Transaction Exposure Potential profit and loss generated by current foreign exchange transactions. Translation Exposure The calculation of loss or profit resulting from the valuation of foreign assets and liabilities for balance sheet purposes, when consolidating into the base currency.
Treasury Bills Short-term obligations of a Government issued for periods of one year or less. Treasury bills do not carry a rate of interest and are issued at a discount on the par value. Treasury bills are repaid at par on the due date. In the UK they are normally for 91 days, and are offered at weekly tenders. In the US they are auctioned. Turnover The total money value of currency contracts traded is calculated by multiplying size by the number of contracts traded. Two-Tier Market A dual exchange rate system where normally only one rate is open to market pressure, e.
South Africa. Two-Way Quotation When a dealer quotes both buying and selling rates for foreign exchange transactions. Uncovered Another term for an open position. Under Reference Order Before finalizing a transaction all the details should be submitted for approval to the order giver, who has the right to turn down the proposal.
Under-Valuation An exchange rate is normally considered to be undervalued when it is below its purchasing power parity. Undo A colloquial term for reversing a transaction, e. Last post by drewizesbanks in Trading Psychology. Retail forex traders do not buy or sell actual currencies.
Chart patterns are like that funny feeling you get in your tummy right before you let a fart explode. What is forex trading? How does forex trading work? What you need to know on how to get started in trading forex. The MACD is used to identify moving averages that indicate a new trend. A moving average is simply a way to smooth out price action over time.
The first thing you should know about the Fibonacci retracement tool is that it works best when the market is trending. Learn not to take a loss personally. Peter L. Forex Market Crypto Market. We need to avoid consolidation phase. But how? Bigflame Is Here!
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