| Forex | Foreign Exchange |
| currency pairs | e.g. EUR/USD |
| EUR/USD | base currency |
| EUR/USD | quote currency |
| go long | buy (base currency up against the quote) |
| go short | sell (quote currency up against the base) |
| opening a position | buy or sell, go long or short |
| spread | difference between sell and buy rate |
| pip | smallest measured unit of a currency rate |