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Trading Commodities, Commodity Options and Currencies (Collection) by Carley Garner, Paul Brittain

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14. Currency Lingo

Although my goal is to make this book as least academic as possible, I recognize that currency traders have a language all their own. Accordingly, before it is possible to fully understand the mechanics of the FOREX and futures markets, let alone the theories that drive prices, taking the time to learn the “industry tongue” is a necessary evil.

By nature, traders and those that surround themselves with the markets (brokers, money managers, and so on) tend to be highly organized and efficient, but they are also somewhat creative. As we have touched upon, retail FX brokerage firms ran aggressive (and borderline genius) marketing campaigns prior to government regulatory intervention. When I use the word “genius,” I’m implying ...

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