Diamondmine DIGITAL

Just Like every Field you try to learn,  You would have to get accustomed to its Terms and Terminologies

So also is the Field of Forex,  U would need to learn about the Terminologies so as to be able to communicate with the Market, Analysts and also with your fellow Traders.

You may be among the gathering of Forex Traders but U won’t understand a dime of what they are saying, this is because U don’t know the terms.

So that is what we would be learning in this section

For every New field you embark upon in Life,  You would encounter New Terminologies and terms which is peculiar to such field.

Be it Law,  Medicine, Journalism , Engineering etc…

And you would have to get yourself acquainted with their Terminologies so as to be able to communicate properly

So also is Forex,  for you to be able to Learn and Trade,  U should get to know some of the terms that is used in FOREX Trading.

So that u can understand the News,  Flow with your Fellow Forex traders and understand Analysts

TO GO LONG….means to BUY📈

TO GO SHORT…… means to SELL📉

If a Trader tells you that he went Long on a Currency pair.

He meant that,  He Bought the pair.

While if they tell you that they Short a Currency pair, it means that they Sold the pair

Soon you would get to see that All what we are doing in Forex is Buying and Selling

As you can see in the morning, on the image I dropped ,I bought some and Sold some ..that’s what we do in forex

We would soon get to see how to do this stuffs on our MT4 app

The next terms we would see are

BULLISH MARKET…….
A market that is going Upwards

BEARISH MARKET…… A Market that is going downwards.

When someone tells u that a currency pair or a commodity is Bullish
It’s telling you that its going Up

While

One that is Bearish is going down

BULLS…. The Buyers are referred to as Bulls

BEARS….. The Sellers are referred to as Bears

Let’s be noting all these terms down in our Exercise books or Jotters,
U all would be needing them as U we progress with the Training

RANGING…..
A Market is said to be Ranging, if it does not have any particular direction.
It’s neither moving Upwards nor  Downwards

TRENDING📈📉📈…..
A Market that has a direction.
It’s either moving Upwards📈 or downwards 📉📉

So you can hear people say a market is Trending upwards📈 or the market is Trending downwards📉

So you may hear people tell you that the Market is just Ranging.

They are indirectly telling you that the the market has not found any direction yet.

The next terminology we would be looking at is
HAWKISH
This term is mostly used when referring to the Central Bank Governor or personell of a Country.

When they are Hawkish, they tend to be liberal on interest rate and are willing to increase it.
This is good news for investors

DOVISH
This is the opposite of Hawkish.
Financial personnel who are Dovish are very restrictive… They do not want to tamper with the interest rate.
They even want to reduce it.
This is bad news for investors.

Like what is happening to Great Britain right now

NFP
An acronym for NON FARM PAYROLL.

A very important News Event in the US.

Also Most of the Currency pairs have specific names in which they are called….
We would get to know them soon
Eg

The dollar is sometimes called Greenback

The Pounds is called the cable

The New Zealand dollars is called the Kiwi

The Australian dollars is the Aussie
Etc

We would get to know them as we go along with the Training.
It’s just to get you acquainted with the most popular ones so that When you see fellow Forex Traders discussing,  U would tag along easily

As we go on with the Training,  We would get to see more Terminologies and Explain them as we see them

When we start making use of the MT4 app ,always read the news there to observe that FOREX somehow has its own language.

Forex is sweet ,believe me ,

I’m proud and will never say I regret joining Forex trading

Its like an answered prayer to me

Just believe ,be steadfast , be serious and you will excel.