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    Aussie Online Markets Help Centre - Glossary

    Feeling a little daunted? We are here to help

    Our step-by-step trading academy will guide you through the world of Forex Trading and teach you everything you need to know. The key trading terms can be found in the trader's glossary.

    Aussie

    The Aussie is a nickname that traders use when referring to the Australian dollar.

    Ask Price

    When trading, you will be presented with two prices for any asset that you’re interested in, the bid price and the ask price. The ask price (also known as the offer price) is the lowest price at which sellers are willing to sell the asset in question. In short, if you are buying you will receive the ask price.

    Arbitrage

    Arbitrage is when traders take advantage of price inefficiencies between markets. If, for instance, you become aware that a certain asset is selling for a higher price on Market A than you are able to purchase it for on Market B, then buying it at the cheaper price and selling it on the more expensive market would be an example of arbitrage. In practise, arbitrage becomes harder to take advantage of the more interconnected markets become.

    Algorithmic Trading

    An algorithm is a set of instructions to be followed in a step-by-step manner by a computer. Algorithmic trading is the use of algorithms to automatically open and close trades according to predefined parameters. For instance, an algorithm can be programmed to observe the overbought and oversold conditions of a given market and to automatically open and close positions when certain criteria are met.

    Asian Session

    The Asian session refers to the period of time when the Asian markets are open. It is the earliest session of a given trading day and the first to open after the weekend. The term is often interchangeably used with the Tokyo session; however many countries including China, Australia, New-Zealand and Russia are also present during these hours. Therefore, the Asian session is longer than the Tokyo session, running between 11pm and 8am GMT. These hours change when daylight savings time is observed.