When you want to enter the world of forex trading, the many terms and abbreviations commonly used in the trading process may still sound foreign to you, usually traders call these terms Forex Dictionary. Here are some basic terms that are important for you to know:

AccountA means to record client transactions.
Account BalanceThe difference between the credit amount and the debit balance. If the balance is deficit (negative) if the debit is greater than credit. Vice versa, if the balance is surplus (positive) if credit is greater than debit.
Account StatementA status report of all buying and selling transactions made by a client.
Fundamental AnalysisAnalysis based on global or local economic, political and security situations and conditions that differ depending on the country of origin of the stock exchange, the companies that issue shares, or the countries whose currencies are traded.
Technical AnalysisAnalysis that uses charts or graphs to track data on price movements and trading volume with the aim of identifying ongoing price trends.
ArbitrageA way to make a profit when two companies make currency transactions in different types of markets.
Ask PriceThe bid price is a currency value.
Back OfficeThe department that processes all financial transactions that occur outside the dealing room.
BailoutClient fundraising.
BalanceTotal client balance.
Central BankFinancial services that provide commercial banks. The central bank also plays a role in maintaining the stability of the currency value from inflation.
BullAn increase in the value of a currency. This is caused by many traders who make Buy transactions.
Bar ChartBar chart showing open and close prices for a certain period.
BearishPrices are down.
Forex NewsWorld economic news released by a country and is expected to affect the value of a currency.
BearA decrease in the value of a currency. This is caused by many traders who make Sell transactions.
Bid PriceThe asking price for a currency.
Bid / Ask SpreadThe difference between supply and demand within a certain period.
Bottom Price The lowest price on a currency pair within a certain period.
BrokerA company that has a function as an intermediary between traders and the stock market.
Bullish Prices are going up.
BuyBuy transaction.
Buy LimitA buy transaction when an open position will automatically open when the price has touched the specified point.
Buy StopBuy transactions that are located above the current price.

CandlestickThe visual form of a currency movement, usually in the form of a bar chart.
Close Order End the transaction.
Cross Rate The exchange rate for a pair of currencies when the currency cannot be used in the country.
CurrencyThe currency of a country.
Currency symbolAbbreviation of currency name.

Day TradingTrading activities where transactions are carried out on the same day.
DealerCompanies that make trading operation agreements with market participants.
DepositDeposit funds with a broker before making a transaction.
DiversificationTransfer of funds to other investments.
DeficitMinus condition of client balance.
DerivativesTrading contracts whose value changes and changes over a certain period of time.
DevaluationDecrease in the value of currency exchange rates.

EquityThe balance value after making a transaction.
Expert AdvisorAbbreviated as EA, is a software for automatic trading.

FlatStable currency price movements.
ForexTrading currencies of different countries for the purpose of making a profit.

GapUnforeseen conditions for a sudden surge in prices.
Gross Domestic ProductThe overall output of a country.
Gross National ProductThe results of GDP and other investments.

Spot PriceCurrency prices at that time.
HawkA country's economic policy to balance the price of goods by increasing interest rates.
HedgingActivities carried out by opening a Sell and Buy position simultaneously.

IndicatorA tool that provides data from the calculation of certain formulas to measure and assess market conditions so that traders can predict the next market direction.
Instant ExecutionOrders placed by traders to determine prices.
Financial InstrumentsFutures trading products.
InflationA decrease in the value of the currency.
Initial MarginMinimum deposit set before making a transaction.

CommissionThe fee borne by the broker to the client when the sale and purchase transaction is made.
ContractStandard unit of transaction.
Exchange rateThe difference in the exchange rate of the currency of a country with another country.

ProfitThe benefits.
Support LevelA price level at which traders often make transactions.
LotTransaction order volume.
LeverageBroker loan funds provided to clients so they can make transactions using small funds.
LiquidityEase of selling assets without affecting prices.
LongThe increase in profit was due to the growth in market prices.
Limit OrderA transaction when the price reaches the specified point will open automatically.

MarginFunds that are guaranteed to the broker when making transactions.
Market ExecutionOrders placed when there is a price change.
Margin CallBroker notification to add funds so that the used margin does not run out.
Major CurrencyMost traded currency.

Open OrderAn ongoing order.
Open PositionAbbreviated as OP, is an activity to initiate transactions.
OrderAn execution order that is executed at a specified exchange rate.

PairA currency pair for trading.
PipsThe unit used to calculate the final value of the exchange rate.
Primary RateWhen a country trades its own currency.

QuotesThe value of an exchange.

RangeThe difference between the highest price and the lowest price during a certain period.
ResistanceThe level that is above the current price is where it is the most influential for the price reversal.
Risk ManagementDefined loss limit.

SellSelling transactions.
Sport PriceCurrency exchange at that time.
Stop Loss OrderThe loss limit is set when the price touches the specified point the order will be closed automatically.
Support LevelThe levels that are below the current price are the ones that have the most influence on the price reversal.
SwapThe cost of staying is borne by the broker to the client when the transaction is not closed the next day.

TickThe price movement in the smallest distance.
Turnover The total amount of funds transacted.
Take ProfitProfit limit when the price touches a certain point the order will be closed automatically.

US Prime RateLoan interest rates provided by commercial banks to clients.

Value DateThe maturity date given by a broker in making a transaction.
VolatilityPrices move up and down rapidly.

WinAnalysis as expected.
WithdrawalWithdrawal of funds from the trading account and then sent to the bank account.

The following are abbreviations commonly used by traders:

EAExpert Advisor / Trading Robot
MCMargin Call
NDBNo Deposit Bonus
OPOpen Position
SLStop Loss
TPTake Profit