Getting so much confused with the terms. Please, help.

Mar 03, 2019 at 11:46
2,426 Views
52 Replies
Member Since Feb 28, 2019   4 posts
Mar 03, 2019 at 11:46
Hi,

I am reading for the last three/four days about Forex and right now, I am getting totally confused. I can't get used to with the terms used in Forex related conversation.

How could I improve this? I am trying to understand and memorize those terms like looney, currency pair, pip, pipettes, lot and thousands more. Is there any other easy method?

I even search for kind of Forex Dictionary but failed to find one.

Hope that, you won't mind.
Member Since Jan 05, 2016   1189 posts
Mar 03, 2019 at 19:21
sidekickstarter posted:
Hi,
I am reading for the last three/four days about Forex and right now, I am getting totally confused. I can't get used to with the terms used in Forex related conversation.
How could I improve this? I am trying to understand and memorize those terms like looney, currency pair, pip, pipettes, lot and thousands more. Is there any other easy method?
I even search for kind of Forex Dictionary but failed to find one.
Hope that, you won't mind.

You didn't search very hard.

Here you go....
https://lmgtfy.com/?q=forex+terminology

There is currently about 6,140,000 results.
If it looks too good to be true, it's probably a scam! Let the buyer beware.
Member Since Feb 28, 2019   4 posts
Mar 04, 2019 at 07:37
Professional4X posted:
sidekickstarter posted:
Hi,
I am reading for the last three/four days about Forex and right now, I am getting totally confused. I can't get used to with the terms used in Forex related conversation.
How could I improve this? I am trying to understand and memorize those terms like looney, currency pair, pip, pipettes, lot and thousands more. Is there any other easy method?
I even search for kind of Forex Dictionary but failed to find one.
Hope that, you won't mind.

You didn't search very hard.

Here you go....
https://lmgtfy.com/?q=forex+terminology

There is currently about 6,140,000 results.

That's really great. I really didn't use exact keywords. I find the place I need. Thanks a lot.
Member Since Sep 12, 2018   6 posts
Mar 29, 2019 at 11:08
sidekickstarter posted:
Hi,

I am reading for the last three/four days about Forex and right now, I am getting totally confused. I can't get used to with the terms used in Forex related conversation.

How could I improve this? I am trying to understand and memorize those terms like looney, currency pair, pip, pipettes, lot and thousands more. Is there any other easy method?

I even search for kind of Forex Dictionary but failed to find one.

Hope that, you won't mind.


It's totally okay to be confused. There's a LOT of terms and trust me when I say you will memorize them in time. There is no shortcuts in my opinion to learn them all.

Maybe you could create your own forex dictionary. When you come across a word you don't know, look for the meaning of it and write it down.

For me, writing by hand really helps with memorizing words and it might help you too. Plus, when you have it written down you have your own forex'dictionary', in case you forget some term.
Member Since Feb 11, 2019   34 posts
Apr 01, 2019 at 10:21
I have often thought of that myself. good question to ask!
Member Since Jul 09, 2019   26 posts
Jul 31, 2019 at 07:45
Yeah it happens in the beginning but that’s okay. There are a lot of trading terms to memorize but the best thing would be to understand one term at a time thoroughly and keep on reading about that until your concept is clear otherwise Babypips provides an online course which will clear all your confusions. Understand,learn,then write it down in your own words and create your Forex dictionary.
Member Since Jul 31, 2019   12 posts
Jul 31, 2019 at 08:39
Babypips is a good place to start. I would not worry too much about terminology, you will pick it up as you learn and practice
Member Since Jul 09, 2019   33 posts
Aug 02, 2019 at 07:00
sidekickstarter posted:
Hi,

I am reading for the last three/four days about Forex and right now, I am getting totally confused. I can't get used to with the terms used in Forex related conversation.

How could I improve this? I am trying to understand and memorize those terms like looney, currency pair, pip, pipettes, lot and thousands more. Is there any other easy method?

I even search for kind of Forex Dictionary but failed to find one.

Hope that, you won't mind.



Forex trading is not a get rich quick scheme . Learning to trade in forex takes time. A lot of time. Forex markets are highly volatile , so one must have a good hang of it before they actually start trading forex. What you need to do is stay calm and learn each day.
Read books , articles in magazines or newspapers. Familiarise yourself with the trading terminology . Look for tutorials on youtube and follow websites which provide meaningful information on forex trading like babypips.

Once you are done with the understanding part , you can open a demo account to have a practical understanding of how trading is done . It will give you an idea of how the platforms work and their features . Place trades , develop plans and practice each day. Just remember – don’t rush ! Get your basics right.
Member Since Aug 02, 2019   11 posts
Aug 02, 2019 at 12:08
smith_fx posted:
sidekickstarter posted:
Hi,

I am reading for the last three/four days about Forex and right now, I am getting totally confused. I can't get used to with the terms used in Forex related conversation.

How could I improve this? I am trying to understand and memorize those terms like looney, currency pair, pip, pipettes, lot and thousands more. Is there any other easy method?

I even search for kind of Forex Dictionary but failed to find one.

Hope that, you won't mind.



Forex trading is not a get rich quick scheme . Learning to trade in forex takes time. A lot of time. Forex markets are highly volatile , so one must have a good hang of it before they actually start trading forex. What you need to do is stay calm and learn each day.
Read books , articles in magazines or newspapers. Familiarise yourself with the trading terminology . Look for tutorials on youtube and follow websites which provide meaningful information on forex trading like babypips.

Once you are done with the understanding part , you can open a demo account to have a practical understanding of how trading is done . It will give you an idea of how the platforms work and their features . Place trades , develop plans and practice each day. Just remember – don’t rush ! Get your basics right.


Great point well made. So many people rush into this and expect to be rich within weeks. Like all good things in life, hard work is required
Member Since Dec 18, 2019   20 posts
Apr 25, 2020 at 14:12
How can you failed to find some dictionary about forex, are you really serious now? It's damn easy as hell probably anyway. Just like some other use google, this website honestly for advanced traders and lacks really newbie sections, so keep that in mind.
Member Since Dec 09, 2019   60 posts
Apr 27, 2020 at 05:30
It will take some times to get used to the terminology, but I am more concerned about your process with search engine which could have been simple, but..yea...
Member Since Apr 18, 2020   54 posts
Apr 27, 2020 at 09:01
You can check Babypips. That has got all this explained in easy terms.
Member Since May 27, 2020   31 posts
Jun 10, 2020 at 07:11
Brick_56 posted:
You can check Babypips. That has got all this explained in easy terms.
Babypips is good for beginners.
Member Since May 13, 2020   128 posts
Jun 13, 2020 at 15:47
I think you’ll better understand them when you start trading.
Member Since Apr 15, 2020   83 posts
Jun 16, 2020 at 04:09
Try to use all these terms to trade on a demo account.
Member Since Jun 17, 2020   1 posts
Jun 18, 2020 at 08:48
You will get a hang of terminologies in sometime. I would suggest to read basic things on Investopedia.
Member Since Jul 20, 2020   341 posts
Aug 20, 2020 at 18:37
I can suggest you to trade in a demo account to know all the terms practically. you can remember easily if you work with those terms practically in a demo account.
Member Since Jun 30, 2020   90 posts
Aug 21, 2020 at 06:51
Some time should pass, and in practice you will be able to become more comfortable with the concept of how to use the terms.
Member Since Jul 19, 2020   318 posts
Dec 03, 2020 at 12:32
If you can not make your decisions properly in the forex market, you can practice on a demo account to get confidence on trading and it will help yo to make money consistently.
Member Since Jul 20, 2020   341 posts
Dec 21, 2020 at 21:28
If you want to become successful in the forex market, you need to choose the best strategy and choose the best broker.
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