Trading has a lot of jargon, most of which describes something simple. These are the order and position terms you will actually meet, defined in plain language. Terms are grouped by what they describe rather than alphabetically, because that is how they make sense.
Opening a trade
| Term | What it means |
|---|
| Stake | The amount you commit to a single trade. |
| Position size | The same idea, stated more generally. How much of your balance a single trade represents. |
| Direction | Whether you are predicting the price will be higher or lower at expiry. |
| Entry price | The market price at the moment your trade opened. |
| Expiry | The time at which the trade is settled and the result decided. |
Position size is the single most consequential decision in this list, and the one beginners think about least. A correct prediction with an oversized position can still end an account.
While a trade is open
| Term | What it means |
|---|
| In the money | Price has moved the way you predicted. The trade would win if it expired now. |
| Out of the money | Price has moved against your prediction. The trade would lose if it expired now. |
| At the money | Price is at or very near your entry price. |
| Unrealised result | What the trade is worth on paper before it settles. Not final. |
None of these are decided until expiry. A trade that has been out of the money for most of its life and in the money at the final moment settles as a win, and the reverse is equally true.
After a trade settles
| Term | What it means |
|---|
| Payout | The return applied to a winning trade, expressed as a percentage of the stake. |
| Settlement | The moment the result is calculated and applied to your balance. |
| Win rate | The share of your trades that settled as wins. On its own it says little — position sizing matters more. |
Account and balance terms
| Term | What it means |
|---|
| Balance | Funds available in your account. |
| Demo balance | Virtual funds used on a demo account. Cannot be withdrawn and carries no real risk. |
| Turnover | The total value of trades placed, wins and losses alike. Bonus terms are usually expressed against it. |
| Verification | Confirming your identity. May be requested depending on account activity, and completing it early keeps withdrawals moving. |
Market terms you will see alongside these
| Term | What it means |
|---|
| OTC | Over-the-counter. A market quoted continuously rather than on exchange hours, so it stays open at weekends. See what is OTC in Binoria. |
| Volatility | How much and how quickly a price moves. Higher volatility means larger swings in both directions. |
| Timeframe | The period each candle on the chart represents — one minute, five minutes, one hour, and so on. |
| Spread | The gap between the buy and sell price of a market. |
Where to use this
If a term here is new, the fastest way to make it concrete is to open a demo account and watch it happen once. Reading that a trade is "out of the money" is abstract; watching one sit out of the money for four minutes and settle as a win in the last five seconds is not.