EURO.uz -The Forex quick guide for beginners and private traders

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The Forex quick guide for beginners and private traders


G10

G7 plus Belgium, Netherlands and Sweden, a group

associated with IMF discussions. Switzerland is sometimes

peripherally involved.

G5 The Group of Five. The five leading industrial countries: US,

Germany, Japan, France, UK.

G7 The seven leading industrial countries, being US , Germany,

Japan, France, UK, Canada, Italy.

Gamma The rate at which a delta changes over time, or for one unit

change in the price of the underlying asset.

Gap

A mismatch between maturities and cash flows in a bank, or

individual dealer's position book. Gap exposure is

effectively interest rate exposure.

GLOBEX

A system for global after hours electronic trading in futures

and options developed by Reuters for CME and CBOT, for

use in conjunction with various exchanges around the

world.

GNP Deflator Removes inflation from the GNP figure. Usually expressed as

a percentage and based on an index figure.

GNP Gap

The difference between the actual real GNP and the

potential real GNP. If the gap is negative an economy is

overheated.

Going Long The purchase of a stock or commodity for investment or

speculation.

Going Short The selling of a currency or instrument not owned by the

seller.

Gold Standard

The original system for supporting the value of currency

issued. Accordingly, the monetary system backs its currency

with a reserve of gold, and allows currency holders to

convert their currency into gold. This system was in vogue

before 1973 when the fixed exchange rates were prevalent.

Gross Before deduction of tax.

page 90 of 110

Value Definition

Gross Domestic Product

Total value of a country's output, income or expenditure

produced within the country's physical borders. GDP is the

broadest measure of aggregate economic activity available.

Reported quarterly, GDP growth is widely followed as the

primary indicator of the strength of economic activity. GDP

represents the total value of a country's production during

the period and consists of the purchases of domestically

produced goods and services by individuals, businesses,

foreigners and governments.

Gross National Product

(GNP)

Gross domestic product plus "factor income from abroad" -

income earned from investment or work abroad.

GTC See "Good until canceled".

GTC "Good Till Cancelled"

An order left with a dealer to buy or sell at a fixed price.

The order remains in place until it is cancelled by the

client. Different than normal practice, the order does not

expire at the end of the trading day, although normally

terminates at the end of the trading month.

Hard Currency A currency whose value is expected to remain stable or

increase in terms of other currencies.

Head and Shoulders

A pattern in price trends which chartists consider indicative

of a price trend reversal. In this pattern, the price has risen

for some time, and at the peak of the left shoulder, profit

taking has caused the price to drop or level. The price then

rises steeply again to the head before more profit taking

causes the price to drop to around the same level as the

shoulder. A further modest rise or level will indicate that a

further major fall is imminent. The breach of the neckline is

the indication to sell.

Hedge

The purchase or sale of options or futures contracts as a

temporary substitute for a transaction to be made at a later

date. Usually it involves opposite positions in the cash,

futures or options markets.

Hedging

A hedging transaction is one whose main aim is to protect

an asset or liability against a fluctuation in the foreign

exchange rate, rather than profit from the exchange rate

fluctuations.

HIBOR Hong Kong Inter-bank Offered Rate.

Historical Volatility

The annualized standard deviation of percentage changes in

futures prices over a specific period. It is an indication of

past volatility in the marketplace.

Hit the Bid Acceptance of purchasing at the offer, or selling at the bid.

Holder Same as buyer.

Housing Starts Housing starts are a measure of the number of residential

units on which construction has begun each month.

Hyperinflation

Very high and self-sustaining inflation levels. One definition

is the period from which inflation exceeds 50%, until it

drops below that level for 12 months.

 

 

 

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