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Forex Glossary

Traders, especially beginners, may not know or understand some Forex terms, so we provide our users with a list of specialized terms with their definitions.

En TermEn Description
Normal market conditions

condition of a market that meets the following requirements: - absence of noticeable breaks in relation to the trading platform quotes; - absence of rushing price dynamics; absence of significant price gaps

Obvious mistake

opening/closing client positions or executing client order at a price that greatly differs from price quoted per instrument in present flow quoting at the moment of processing. Or some other dealer activity or inactivity that deals with mistaken determination of market prices at the present moment

Open position

the result of the first part of a completed transaction; at the position opening, the client accepts the following liabilities: - to execute the opposite operation of equal volume; - to maintain equity not lower than 10% of the necessary margin

Pending order

the client instructs the dealer to buy or sell once the price reaches the order level

Pips (points)

the smallest unit of price for any foreign currency, also referred to as points

Price prior to non-market quoting

closing price of minute bar, prior to minute bar with non-market quoting. Price Gap – either of the following situations: – Present quoting Bid is greater than prior quoting Ask; – Present quoting Ask is less than prior quoting Bid.

Quote flow

a sequence of numerical data describing the price value of an instrument at a certain time period


the distance between levels of support and levels of resistance

Resistance level

highest channel’s borderline

Rising trend

occurs, when every following value of the wave curve is higher than the previous rate value. The lows of the waves are connected with a straight line – the trend line

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