Trader's Glossary

Black Wednesday

Slang term for September 16, 1992, when George Soros broke the Bank of England, earning himself over $1 billion while causing the British government to withdraw the pound from the European Exchange Rate Mechanism.
Did you know?

The average daily trading volume in the foreign exchange market exceeds $5 trillion.

Word of the day
"One Cancels the Other Order (OCO)" - A combination of a stop order with a limit order to mitigate risk exposure, whereby the execution of one order triggers the automatic cancellation of the other.
Pro Tip

required margin in quote currency = trade size in units / leverage X exchange rate

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