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Valuation Determining the value of a security, commodity or other asset. Value Date Same as settlement date. The date at which physical delivery of a forex spot transaction takes place. Variable Limit When there are periods of extreme volatility on

Same Day Transaction Opening and closing a position on the same day. Samurai Market Slang term for the Japanese stock market . Scalper A forex trader that makes many small trades a day. A scalper is a forex trader that chooses to follow a strategy of

Transaction The buying and selling of a currency pair . Transaction Cost The cost associated with buying or selling a currency pair. Transaction Date The date on which a position is opened or closed. Treasury Bills U.S. Treasury short term bonds with

Unconvertible Currency A currency that is not traded on the forex market but used only for domestic purposes. Uncovered Option A short call or put option, where the option is not covered by a purchase or sale of the underlying asset. Underlying

Tier One The highest possible credit strength rating, give by the Bank of International Settlements. Time Value The value that an option has besides intrinsic value. Time value represents the value that an option will have from the possibility of an

Par The upfront face value of an asset or security. Par Spread When the bid and ask price for a forward spread rate are the same. Paris Nickname for the US Dollar – French Franc currency pair, before France adopted the Euro Partial Lot Trading only

Order An instruction made to a broker to buy or sell an asset in the market. Oscillators Technical analysis tool that is used to determine if a currency pair or other asset is overbought or oversold. See Also: Statistical Oscillators Out Of The Money

Odd Lot A lot that deviates in size from the standard lot size of 100,000 units. See Also: Lot Offer The Ask price. The price at which the holder of a currency is willing to sell. Offer Price The Ask price. The price at which the holder of a currency

New Zealand Dollar (NZD) The currency of New Zealand. One NZD is made up of 100 cents. News trader A trader who primarily trades on news releases such as economic reports and Federal Reserve announcements. News releases are usually followed by hectic

Naked Put Any kind of put option where the option writer isn't short in the underlying asset. Also referred to as an 'uncovered option’. See Also: Option Narrow Market A market where there is little trading. See Also: Thin Market

Mediation If there is a dispute between two parties concerning a futures contract, the national futures association (NFA) can act as a mediator to find a solution. Mediation is the process where the two concerned parties use a third independent party

Margin Call A Margin Call happens when a broker asks for the trader to fund his account with more cash or securities (or sell securities), so the minimum maintenance margin can be met. A margin call will happen once the value of the trading account

M1 Money supply measurement which includes all cash and liquids in circulation, money in checking accounts and travelers checks. M2 Money supply measurement which includes M1, money in savings accounts, money market funds and small Certificates of

Liquidation An account being closed due to margin calls. The account value cannot sustain a position. This most frequently happens when there is a large amount of leverage used on a losing trade. Liquidity Liquidity of a market refers to the volume

Law of One Price The theory that the price of an asset, commodity or security will be the same between countries when corrected for exchange rates. The law of one price is another way of describing the mechanism of purchasing power parity. See Also

New York, August 22, 2008 FXCM ( www.fxcm.com ) has announced the opening of its discount brokerage division FXCM Micro ( www.forexmicrolot.com ). FXCM Micro allows traders to trade with super-low spreads, automated execution, and 1K lot sizes. FXCM

Forex is an abbreviated name for "foreign exchange."  The Forex trading market is an around-the-clock cash market where the currencies of nations are bought and sold, typically via brokers. For many years, the Forex market was

Why Money Management? Best system will fail in long-term if it is without proper money management. On the contrary, bad system can turn profitable if used with a good money management. Currency trading always go through the cyclical ups and downs

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