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Foreign exchange fundamentals commonly used terms

1, cashbackforex pairs CURRENCYPAIR currency cashbackforexpip a national custom currency, the most commonly traded eight currencies (USD, EUR, JPY, GBP, CHF, CAD, AUD, NZD) is called the primary currency, all other currencies are called secondary currencies Currency pairs are the 100%cashbackforex forex cashback easy quotes generated by the crossover of two currencies, such as EUR/USD (EUR/USD) 2, DIRECTTRADE refers to the international foreign exchange market, a countrys currency directly with the U.S. dollar exchange is a direct, simple understanding: all direct contact with the U.S. dollar is a direct, for example: EUR/USD (EUR/USD), USD/CAD (USD/CAD) / CAD), etc. 3, cross currency pairs / cross plate CROSSPAIR / CROSSTRADE without the U.S. dollar as a unit of cross-currency exchange rate quotes, that is, not linked to the U.S. dollar, such as EUR/GBP (EUR / GBP), GBP/JPY (GBP / JPY) 4, exchange rate EXCHANGERATE currency foreign exchange rate (FXRate, FXRate) is based on another currency exchange rate. ForeignExchangeRate) is to another countrys currency to indicate the forexcashbackeasy of the national currency, such as USD/CHF exchange rate of 1.0022, then it means that 1 U.S. dollar is equal to 1.0022 Swiss francs 5, big numbers BIGFIGUREQUOTE refers to the first few digits of the exchange rate these figures rarely change in normal market fluctuations, so usually in the traders Quotes are omitted, especially in times of high market activity For example, the USD/JPY exchange rate is 107.30/107.35, but when being quoted verbally without the first three digits, only 30/35 & Prime; 6, fixed exchange rate FIXEDEXCHANGERATE fixed exchange rate is based on the gold content of the currency, the formation of a fixed ratio between the exchange rate this development The exchange rate is either regulated by the input and output of gold, or under the control of the monetary authorities, fluctuating within the legal range, and thus has relative stability It is basically fixed, the exchange rate fluctuations are limited to a specified range of exchange rate 7, floating exchange rate FLOATINGEXCHANGERATE floating exchange rate system ( floatingexchangerates) refers to the exchange rate of a countrys currency according to the changes in the market currency supply and demand, allowing it to rise and fall freely, governments and central banks in principle, without restrictions, and without obligations to maintain the stability of the exchange rate, such an exchange rate is the floating exchange rate system its formal universal implementation, is the late 1970s dollar crisis further intensified after the start of 8, cross CROSSRATE refers to the development of the basic exchange rate, the local currency to other foreign currencies can be set through the basic exchange rate, so that the resulting exchange rate is the cross rate, also known as the set exchange rate (also called cross plate) foreign exchange cashback forexs often involve two non-dollar currency transactions, and most of the international financial market offer is the dollar to another currency offer, at this time, the need for Exchange rate arbitrage 9, inter-bank exchange rate INTER-BANKRATE also known as the inter-bank exchange rate, refers to the inter-bank foreign exchange trading exchange rate it is higher than the buying rate, lower than the selling rate, generally for the middle price between the two foreign exchange banks on the inter-bank exchange rate plus a certain difference after the decision to the customer exchange rate bank exchange rate is the wholesale price, the customer exchange rate is the retail price 10, the base currency / markup Currency BASECURRENCY/QUOTEDCURRENCY according to the definition of the exchange rate, its expression for a unit of the base currency can be converted to how many units of the marked currency, that is: a variety of markup method under the number of fixed currency is called the base currency (BaseCurrency), the number of changes in the currency that is the marked currency (QuotedCurrency) For example, EUR/USD EUR/USD quotation is expressed in terms of how many US dollars 1 euro is equal to, so the base currency here is EUR euro, and the quoted currency is USD dollar 11, direct quotation DIRECTQUOTATION is also called payable quotation, which means that a certain unit (usually 1) of foreign currency is used as the standard to calculate how much of the national currency should be quoted, that is, the national currency as The vast majority of countries in the world use the direct quotation method, for example, USD/JPY113.307, which means 1 USD = 113.307 yen 12, indirect quotation INDIRECTQUOTATION, also known as receivable quotation, which means that a certain unit (usually 1) of the national currency as the standard, to calculate how much foreign currency should be received Quote is also the national currency as the base currency, foreign currency as the bid currency, for example, GBP/USD1.06025, said 1 pounds = 1.06025 U.S. dollars 13, interest rate swap INTERESTRATESWAP interest rate swap is the same currency, the same amount of debt (the same principal), the same term of funds, for a fixed rate of interest and floating interest rate swap this The swap is a two-party, such as Party A to a fixed interest rate for Party Bs floating interest rate, Party B is a floating interest rate for Party As fixed interest rate, so called swap The purpose of the swap is to reduce the cost of funds and interest rate risk 14, currency swap CURRENCYSWAP currency swap (also known as currency swap) refers to two amounts of the same, the same term, the same method of calculating interest rates, but the currency is different debt funds The swap between the same amount, the same period, the same method of calculating interest rates, but the currency is different debt funds, but also different interest amount of currency swap simply put, the currency swap sides swap is currency, their respective debt relationship has not changed 15, currency warrants CURRENCYWARRANT currently on the market a total of six currency warrants, including AUD/USD AUD/USD, USD/JPY USD/JPY call warrants (C) and Put warrants (P) are available for example, [email protected], US represents the U.S. dollar, YEN represents the yen, C for the call, if the call warrant is bullish on the dollar, bearish on the yen; put warrants are bearish on the dollar, bullish on the yen bullish on a certain one while representing bearish on another 16, transaction costs TRANSACTIONCOSTS the difference between the bid price and the ask price is also a transaction Round the cost of the transaction round is the same amount, the same currency pair of a buy (or sell) transactions and a sell (or buy) transactions used to offset in Table 4.1 in the euro / dollar example, the transaction cost is three points to calculate the transaction cost formula is: transaction cost = sell price - buy price 17, rollover delivery ROLLOVER rollover delivery is the original delivery date of a transaction backward The cost of this process is determined by the interest rate differential between the two currencies. Trading forex on margin can increase your purchasing power if you have $2,000 in your margin account and the leverage allowed is 100:1, you can buy up to $2,000,000 of forex because you only have to pay one percent of the purchase price as collateral. There are 2,000,000 U.S. dollars of purchasing power 18, counterparty COUNTERPARTY in the foreign exchange market transactions, want to buy a product, there must be another person selling this product at the same time, the transaction can be reached, this supply and demand relationship formed the liquidity, and the recipient of the order becomes the counterparty that is, when you make money, the counterparty loses money; when you lose money When the broker becomes the clients counterparty, it is the B-book model; when the brokers upper level liquidity provider: medium-sized banks, market maker banks, etc. becomes the clients counterparty, it is the A-Book19, A-BOOK/B-BOOK when the broker becomes the clients counterparty, it is the B-book model; when the brokers upper level Liquidity provider: medium-sized banks, market maker banks, etc. become the customers counterparty, it is A-Book20, PENDINGORDER PENDINGORDER trading refers to the customer to specify the currency of the transaction, the amount and the target price of the transaction, once the offer reaches or better than the price specified by the customer, that is, the execution of the customers instructions to complete the transaction, the transaction price for the banks immediate offer PENDINGORDER exchange rate should be better than the Banks instant exchange rate, otherwise, according to the instant exchange rate transaction pending orders instructions valid for the day before the transaction, the customer can also take the initiative to withdraw outstanding orders customer in the pending order transaction operation, the amount of the pending order is immediately frozen, the amount can not be used for payment or other purposes within the trading day, unless the transaction is cancelled in the pending order transaction there are four types: buylimit buy limit selllimit sell limit, buystop buy stop, sellstop sell stop sellstop: if you think the exchange rate fell to x price will determine the downtrend, continue to go lower, you can do short at x price, when the price goes to x price when the system will automatically deal buystop: if you think the exchange rate rose to x price will determine the upward trend, continue to go higher, you can be long at x price, when the price goes to x price when the system will automatically deal selllimit: If you think the exchange rate rises to x price will rebound downward, you can be short at x price, when the price goes to x price when the system will automatically deal buylimit: If you think the exchange rate falls to x price will rebound upward, you can be long at x price, when the price goes to x price when the system will automatically deal 21, SLIPPAGE SLIPPAGE is a transaction or pending order transaction, the actual order transaction price and the preset price difference between a trading phenomenon because the transaction through the Internet, are inevitable that the investor server bank three between a time or even multiple price confirmation so there will be slippage while the lack of liquidity, the market volatility, big data release is also the cause of slippage