A trading strategy that assumes the support and resistance points of double tops and double bottoms exert an influence on future price action after they have been broken. The memory-of-price strategy says that after support or resistance has been broken and the majority of stops have been cleared, the price will be attracted back to these support and resistance levels. This strategy is based on the theory that it will take a very large amount of buying or selling to exceed the prior range of the double top or double bottom, respectively. |||This strategy appeals to traders who are frequently taken out by their stops, only to see the price reverse and ultimately move in their predicted direction. This strategy often banks small profits, but it is important to note that when the strategy misses, losses can be quite large. For this reason, it is imperative that the trader sticks to his or her stops when using this setup.
A currency trading lot size that is 1/10 the size of the standard lot of 100,000 units. One pip of a currency pair based in U.S. dollars is equal to $1 when trading a mini-lot, compared to $10 for a standard-lot trade. Mini-lots are available to trade if you open a mini-account with a forex dealer. |||Mini-accounts are not limited to only trading with one mini-lot at a time. To make an equivalent trade to a one standard-lot, a trader can trade 10 mini-lots. By using mini-lots instead of standard-lots, a trader can customize the trade, and have greater control of their risk exposure.
A type of forex account that allows the trader to enter positions that are one-tenth the size of the standard lot of 100,000 units. A one-pip change in a currency pair (based in U.S. dollars), is equal to $1 when trading a mini lot, compared to $10 for a standard-lot trade. Mini lots are available to trade if you open a mini account with a forex dealer. |||Mini forex accounts are commonly used by beginner traders who are looking to gain experience in the forex markets. Traders are not limited to only trading one lot at a time, so these accounts are ideal for increasing exposure as trading confidence builds. To make an equivalent trade to one standard lot, a trader can just trade 10 mini lots. By using mini lots instead of standard lots, a trader is able to customize the trade and obtain greater control of his or her risk.
Terms used by floor traders to signify buying and selling. Mainly used in forex transactions. |||If a trader wanted to buy something, he/she would type or say "Mine," as in "It's mine." If the trader wanted to sell, he/she would type or say "Yours," as in "It's yours."
The equivalent to a contract for 1,000 units of the base currency in a forex trade. The base currency is the first currency in a pair, or the currency that the investors buys or sells. Trading in micro-lots enables traders to trade in small increments. |||When an investor places an order for a micro lot, this means they have placed an order for 1,000 units of the currency being bought or sold. For example, in a USD/AUD currency pair, the U.S. dollar is the base currency. Investors use micro-lot sizes when they prefer not to trade mini or standard lots. Ten mini lots is equal to 100 micro lots, which is equal to one standard lot.
A forex trade made up of contracts for 1,000 units of currency. Micro accounts are one of three common types of accounts in forex market trading that investors use when trading currencies; the other two are mini accounts and standard accounts. This type of account is usually used by beginner traders. |||Forex micro lots are equivalent to 1,000 units of the base currency. Depending on the type of leverage that an investor wants to use, immense gains can still be achieved through a heavily leveraged micro account. Standard accounts are usually used by large traders.
The currency abbreviation for the Mongolian tugrug (or tögrög) (MNT), the currency for Mongolia. The Mongolian tugrug is made up of 100 möngö and is often presented with a symbol that looks like the letter "T" with two horizontal slashes through the stem, or Tg preceding the number (i.e. Tg100). Möngö are not used anymore because inflation has rendered them worthless. |||First introduced in December of 1925, the tugrug replaced the Mongolian dollar at a rate at par with the Soviet ruble. There are heavy restrictions on the import and export of currency in Mongolia. The import of local currency is limited to Tg815, and the import of foreign currency is limited to US$2,000 or the equivalent of another currency. only the amount of currency declared upon arrival is permitted to be exported upon departure from the country.
In currencies, this is the abbreviation for the Myanmar Kyat. |||The currency market, also known as the Foreign Exchange market, is the largest financial market in the world, with a daily average volume of over US $1 trillion.