Bullish – The first part of a pair, the GBP of GBPUSD for instance is getting stronger
Bearish – The second part of a pair the USD of GBPUSD for instance is getting stronger
Long trade – A trade where you believe the first part of the pair will get stronger the GBP in GBPUSD
Short trade – A trade where you believe the second part of the pair will get stronger the USD in GBPUSD
Trend – the general direction a pair is taking
Scalp – a very short trade normally only 10 or 20 pips.
Pip – one point movement in a trade e.g. 1.054 to 1.055 in GBPUSD is a one pip bullish movement.
Technical Trading – trading based on the movement of the currencies over time
Fundamental Trading – trading based on news
Stopped Out – a trade that has reached it’s stop loss, or the limit that the trader has set
Take profit – a trade that has reached it’s take profit, or the limit of profit the trader wants to take or expects.
Money Management – Making sure you don’t put too much of your total balance into one trade