Futures and Forex Glossary Dictionary G

Scorpion
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Scorpion  
Group of seven (G7)

Block of countries comprising G-5 countries together with Canada and Italy.

Group of Eight (G8)

Block of countries comprising G-7 countries together with Russia.

Gearing

Financial leverage.

Globex

A globally functioning after-hours electronic trading system.

Gnomes of Zurich

A word coined by British ministers to describe Swiss Banks during the 1964 Sterling crisis. A descriptive comparison between gnomes living underground, and the secretive nature of Swiss bankers

Going Long

The purchase of a currency pair hoping that prices will rise and a profit can be booked when the currency is sold. Opposite of going short

Going Short

Selling a borrowed currency pair and then buying it when the prices get lower with the intention of returning the borrowed currency pair sold earlier. Opposite of going long

Gold standard

A monetary system where the exchange rate was based on the economic difference for an ounce of gold between 2 currencies and which further allowed a country’s currency to be freely exchanged into fixed amount of gold and vice versa

Golden Cross

A bull market supported by high trading volumes characterized for example by 15-day moving average (short-term) breaking above its long term moving average say 50-day moving average or the resistance level.

Goldilocks Economy

Positive performance of the economy as the terminology “Not too hot, not too cold, just right”. Related Term: Econo

Good Until cancelled

A currency trading order that does not expire at the end of the trading day but does so at the end of the trading month as opposed to being perpetually open.

Good-Till Cancelled order (GTC)

An order to either buy or sell currency that holds good until cancelled or executed and further expires if not restated. It is different from a day order.

Grantor

An options trader who rakes in premium income by selling options.

Green back

A slang terminology for US dollars in paper from. Related Term: US Dollar

Grid Trading

Several currency positions having a prior determined spread fixed by the trader. Related Term: Currency Trading

Gross Domestic Product (GDP)

The cumulative annual monetary value of goods and services over time within a country, including income of foreign companies and foreigners working in the country, but excluding income of locals working overseas and local corporations overseas.

Gross National product (GNP

Measure of an economy’s cumulative income comprising GDP plus local residents income accruing abroad minus income accruing in domestic markets to non residents

Guaranteed Introducing Broker

Futures broker having guarantee agreement with a Futures Commission Merchant whereby the latter jointly and severally undertakes responsibility for the Introducing Broker’s obligations with respect to the Commodity Exchange Act