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The Forex Trading Manual: The Rules-Based Approach to Making Money Trading Currencies by Javier Paz

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CHAPTER 2 Important Terminology in Forex Trading

Let’s move closer to trading and start to get technical. If you are already a trader, I recommend that you skim over my definitions of terms (like leverage, margin utilization, and so on) and make sure that your foundation of these trading terms is rock solid. If you are completely new to trading, then pay close attention.

The experience of driving a car is measured using some technical terms that may not be understood by those who do not drive. For example, if we asked a 12-year-old kid to define the meaning and use of mph, rpm, or psi, the kid would probably struggle a bit.

We measure travel speed and distance in miles per hour (mph). When we press the gas pedal, we measure rotational speed within ...

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