Can anyone define this terminology? Please!!

[The Ghost]

Im new to trading and about to attend a trading training program.

My precourse studies require me to know the following terminlogy.

Clip Size, Scratch, Hit, Lift, High Tick, Low Tick, Onside, Offside.

As a novice a simple disciption and example would be very helpful.


Thanks

 

[Jaydee]

Hi Ghost

Clip Size is the maximum amount of contracts you are permitted to trade. For example, you may have a clip size of 100 Bunds and 60 Shatz - which means the most bunds you can trade at any time is 100 and 60 for Shatz.

Scratching a trade is getting out for zero profit and zero loss. You effectively sell at the same price you bought at.

Hit and lift are the opposite of each other - you hit a bid price and lift an offer price. Both are aggressive order types. For example, let's say a stock is 104 - 105. You can hit 104, selling at 104 aggressively and you can lift the offer at 105, buying aggressively at 105.

High tick and low tick are, once again, the opposite of each other. High ticking is lifting an offer in smaller size than usual to trigger short position stops. If you are the victim of this practice, you got "High Ticked". Low Ticking is hitting a bid to trigger long position stops.

Onside and offside are where you are in profit or suffering a loss on your trade respectively.

Hope that helps.

JD

 

[TimYoung]

This thread was three years ago but yeah, it looks like STA. When are you starting?

 

[TimYoung]

Starting 31st of this month and going through the booklet right now myself.

I wished there were more time in the initial interview to ask more questions especially about the contract and the money. I am pretty sure after the course it is a 6 months contract rather than 3 years from what I read.

 

[TimYoung]

If you have nothing lined up then you might as well go on the course. It is free training to know more about the markets. Why not?

Even just from doing this booklet, I am learning a lot.

 

[TimYoung]

Hey anybody can help with these three questions? I am stuck.

1. Does Hit and Lift mean sell and buy? So it is just another term for short and long?
2. Convexity - what is the use of knowing convexity of a bond? Specifically, how can you profit from knowing it?
3. In terms of interest rates, what are 'key contracts'?

Thanks.

 

[Pat494]

High kicks - more like after hours fun

Big tits - that's more like it

 

[TimYoung]

Actually, I am also interested to know does anybody actually do high ticking? I mean unless you are a real big trader in an illiquid market, it seems like bit of a stretch to think you might trigger short stops? How could you tell anyway?