Forex Glossary - T -

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Take Profit Order: A point placed by trader, where when reached, position is closed and profit is taken

Tan Book: Economic report prepared by the Federal Reserve for FOMC meeting.

Technical Analysis: The study of past price pattern to predict the future performance of a particular currency.

Thin Market: Occurs when trading volume and liquidity of a particular market is low.

Tick: Minimum change in price, either up or down.

Tier One: It is the bank’s core capital (bank equity) that supports bank lending.

Tight Money: This is a situation where money or loans are very difficult to obtain due to circumstances resulting in central banks monetary policy decisions.

Tomorrow Next: Also known as Tom Next. This is a foreign exchange trading strategy that seeks simultaneous buying of a currency for delivery the following day and selling for the spot day and vice-versa.

Trade Deficit/Surplus: This is the difference between value of imports and exports.

Transaction Date: Date at which a trade occurs.

Treasury Bills: Short-term U.S. government obligations sold at a discount from face value. Treasury bills generally are issued with 13, 26 or 52 week maturities.

Trend: The general direction of the market broken down into an up-trend, downtrend or sideways trend.

Turnover: Total money value of all transactions in a given time period.

Two-Tier market: A dual exchange rate system where normally only one rate is open to market pressure, e.g. South Africa.

Two-Way Price: Quote in a foreign exchange transaction where both buying and selling rates are indicated.