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Glossary

Day order

A buy or sell order that will expire automatically at the end of the trading day on which it is entered.

Day trade

A trade opened and closed on the same trading day.

Day trader

A trader who buys and sells on the basis of small short-term price movements.

Day trading

Refers to a style or type of trading where trade positions are opened and closed during the same day.

Dealer

A company or individual, playing in the market at their own expense and on their behalf, that is, investing their own money, selling/buying a currency or other assets on their own.

Depreciation

A fall in the value of a currency due to market forces.

Deutsche Akzien Index(DAX 100)

Major German stock index. It is calculated as the average of 100 top German companies.

Devaluation

The depreciation of the national currency, or in other words, the rate decline in relation to foreign currencies and gold. For example, in Britain in September 1992 raising interest rates in the situation of stagnation in the economy were the reason for the devaluation of the pound. On September 16 the pound lost 2.7% against the Mark and by the evening was traded in New York at 2.703.

Direct quotation

Quoting in fixed units of foreign currency against variable amounts of the domestic currency.

Discretionary account

An account in which the customer permits a trading institution to act on the customer's behalf in buying and selling currency pairs. The institution has discretion as to the choice of currency pairs, prices, and timing-subject to any limitations specified in the agreement.

Diversification

The acquisition of a wide range of securities in order to reduce risks: the drop of rate of certain securities is covered by the growth of price of others. The history of the Kimberly Clark company is one of successful diversification. The company worked in a pulp and paper industry sector. At one point, company managers realized that it became difficult for the company to develop in this sector on the world scale. The major incentive was to find a new market, a new industry, and a new strategy. And Kimberly Clark developed Procter & Gamble company in the sector of paper consumer goods. They began to produce "Haggies" diapers, cosmetics and by now they have successfully realized their goal.

Dollar

The national currency in a number of countries: the United States, Canada, Australia, New Zealand etc. = 100 cents. The name originated from the word "Thaler" which was the name for a black metal coin in Europe.

Dow Jones Averages (DJA)

The average indicator of transportation, utilities and industrial companies shares. It was created by Charles Dow, the founder of the Dow Jones& Company. It is calculated as the average of quotes of the day at the exchange closing time.

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