Forex trading comes with its own set of terminology and jargon, which can be overwhelming for beginners.

Here are some standard terms and phrases used in forex trading:

Pip: The smallest price change that a currency pair can make, usually the fourth decimal place (e.g. 0.0001).

Lot: The standard unit size of a forex trade, usually 100,000 units of the base currency.

Bid/Ask Spread: The difference between the bid price (the price at which a buyer is willing to buy a currency) and the asking price (the price at which a seller is willing to sell a currency).

Margin: The money required to open and maintain a forex trade. Stop-Loss Order: An order placed with a broker to sell a currency pair when it reaches a certain price level, in order to limit potential losses.

Leverage: The ability to control a larger position with less capital. Leverage can amplify potential profits, but also increases the potential for losses.

Candlestick: A charting technique used in technical analysis, where each candlestick represents a certain period of time and shows the open, high, low, and close prices of a currency pair.

Support/Resistance: Levels on a chart where the price of a currency pair has previously bounced off of (support) or struggled to break through (resistance).

Fundamental Analysis: An approach to analyzing the forex market based on economic and political events and news.

Technical Analysis: An approach to analyzing the forex market based on past price and volume data, using charting techniques and indicators. These are just a few of the many terms and phrases used in forex trading. It’s important for traders to have a solid understanding of the language used in the market in order to communicate effectively and make informed trading decisions.