Forex Dictionary T-U

T

Take-Profit Order — an order to sell or buy a lot when the market reaches certain price. It is used to fixate your profit when you are not willing to watch the market after taking your position. When you set this order, it automatically closes your position after reaching your profit target.

Technical Analysis — the analysis done on the historical market charts with the help of various technical indicators is called technical analysis. Technical analysis is used to identify the trends and reversals.

Technical indicator: Mathematical methods to study the market movements and make projections.

Tick: The minimum movement on the currency pair chart.

Time-frame: The time period that you wish to set to the candlestick while reading your charts.

Tp — Take profit. While taking a position, you always aim for certain price where you expect the market to move. This is where you intend to close your position and take your profits, so you call it Take profit. It is mostly set as an advanced order by active traders.

Trader: A person who does buying and selling to take advantage of the price movements to make monetary gains.

Trading platform– software provided to you by the broker which displays not only the current market rates, but also the complete details of your account status. It is on the same software that you find the facility to open your positions with the click of a few buttons.

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Trading range: The area between Last High and Last Low.

Transaction: A trade is also called a transaction. (Also check transaction cost)

Transaction cost: The cost of opening a position by paying the required spreads, broker commissions and Swap charges is called transaction cost. However, in the competitive business time of today, brokers have stopped charging any commission to retail traders; therefore what you pay is only the spread and the overnight position holding interest.
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Trend — the direction of market is called the market trend or the trend. It is uptrend when the market rates are going up and downtrend when they are coming down. It’s the indicator that suggests whether the price is in the uptrend or the downtrend.

Trigger: The click button on your platform to buy or to sell which helps you open your trade.

U

Un-authorized trading: An illegal login to a trader’s account and opening trades without his knowledge or permission.

Uncovered: An open position

Unrealized Profit/Loss: the profit/loss on your open positions. This is also called floating Pal.

Uptrend: an Increase in the currency price beyond the first barrier.

Useable Margin —when you open a position, certain money form your account is kept as a security with the broker in lieu of the leverage granted to you. Rest of the money which is unused is called useable margin as you can open further positions with this money as long as it suffices to meet the margin requirements.

Used Margin: amount of money in the account already used to hold open positions open. This is calculated by dividing the number of units of currency pair traded by the leverage used. This money is kept as security with the broker and is restored in our account when you close your position.

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