Day trading in forex is a very quick process. And after the coming of forex trading platforms the volatility of the currencies is very high and it is important that you get used to the many terminologies in forex in a way to enhance your capabilities to trade a lot quickly.

• Secondary currency - The currency that the depositor trades the base currency against (i.e. USD in EURUSD).It is also known as the variable currency or counter currency.
• Short position - A position, in which one can take benefit from a drop in market prices.
• Short - To sell.
• Speculative - To trade with the intent being profit. Not generally done to look after business requirements and sustenance.
• Spot - A Spot rate is the current market price of a foreign currency being traded.
• Spot market - The section of the market that demands spot payment of transactions. The specific meaning of “spot” will depend on local norm for a commodity, security or currency. In the UK, US and Australian foreign-exchange markets, “spot” means delivery after two working days.
• Spread - The variation between the bid and the ask rate.

Ideally, when you trust your forex transaction to a broker you need to know that there are good and manipulative brokers and you have to make your trade accordingly. With many online forex trading platforms around it is easy to set your requirements and trade on your own within no time. However, it is up to your choice!