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

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.

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.

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.

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.

I have often thought of that myself. good question to ask!

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.

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

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.

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

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.

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...

You can check Babypips. That has got all this explained in easy terms.

Brick_56 posted:
You can check Babypips. That has got all this explained in easy terms.

Babypips is good for beginners.

I think you’ll better understand them when you start trading.

Try to use all these terms to trade on a demo account.

You will get a hang of terminologies in sometime. I would suggest to read basic things on Investopedia.

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.

Some time should pass, and in practice you will be able to become more comfortable with the concept of how to use the terms.

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.