Crypto trading glossary

The difference between the highest quoted buying price and the lowest quoted selling price in a market. It is a quoted-price gap rather than a guaranteed execution cost.

A timestamped journal note can preserve the bid and ask observed at the time.

A trade outcome of zero profit or loss under a stated accounting basis. Gross break-even excludes costs, while net break-even includes fees and other recorded costs.

A journal can state whether its break-even classification includes costs.

A decline from a previous peak in an account’s balance or total value, expressed as an amount or percentage. Its value depends on the chosen series and period.

A journal summary can record the peak, subsequent low and dates for a selected history.

The price at which a trade or position is opened. Multiple opening fills may be represented by a quantity-weighted average.

A journal entry records the opening price alongside its time and quantity.

The price at which all or part of a position is closed. Multiple closing fills may have different prices.

A journal can keep each closing fill or a quantity-weighted closing average.

The average outcome per trade in a defined historical sample, expressed in money or R-multiples. This sample statistic is not a forecast of future outcomes.

A journal summary can state the sample period, included records and treatment of costs.

The rate used to calculate periodic payments between holders of long and short perpetual-contract positions. The payment direction and interval depend on the contract and exchange.

A journal can keep actual funding payments or receipts separate from trading fees.

The relationship between a position’s notional exposure and the margin supporting it. Leveraged exposure magnifies price-related gains and losses relative to that margin.

A journal can record the leverage shown by the exchange when the position was opened.

The exchange-calculated price threshold at which a leveraged position may be forcibly closed because its margin no longer meets requirements. The trigger price and calculation depend on the exchange, contract and margin mode.

A journal can save the displayed threshold with its timestamp and margin mode.

A position whose price-related profit or loss increases as the underlying price rises and decreases as it falls. Fees and funding also affect the net result.

A journal records long as the position’s direction.

The minimum margin required to keep a leveraged position open under an exchange’s rules. Requirements can vary by contract and position size.

A journal note can preserve the applicable requirement and exchange context.

Collateral allocated or required to support a leveraged position. Isolated margin is assigned to an individual position, while cross margin uses eligible shared account collateral.

A journal can record the margin amount, currency and margin mode.

An exchange’s reference price used to value derivative positions and, on many platforms, assess liquidation thresholds. It can differ from the most recent traded price.

A dated journal note can identify the mark price separately from an execution price.

An instruction to buy or sell at available market prices rather than a specified limit price. Its fills may occur at several prices, and an execution price is not guaranteed.

A journal can record the order type and actual fills.

The closing of part of an open position while the remaining quantity stays open. Each partial close has its own quantity, execution price and realized result.

A journal can record each partial close separately from the final exit.

A derivative contract without a fixed expiry date, commonly using periodic funding payments. It represents contractual exposure rather than ownership of the underlying asset.

A journal can identify the contract, exchange and settlement currency.

The quantity of an asset or the number of contracts in a position. Notional value is a separate measure of the monetary exposure that quantity represents.

A journal records the quantity and unit alongside the instrument and entry price.

A trade’s profit or loss divided by its recorded initial risk amount, where one R is that initial amount. The measure is undefined when initial risk is zero.

A journal keeps the initial risk and result so its recorded R value can be traced.

Profit or loss attributable to the closed portion of a position. A gross figure excludes costs, while a net figure accounts for the costs included in its calculation.

A journal can record closed results with a stated cost basis.

The ratio between a stated potential loss and a stated potential gain for a recorded trade plan. It describes planned price distances or amounts, not the probability of either outcome.

A journal can preserve the planned entry, stop and target values used for the ratio.

A position whose price-related profit or loss increases as the underlying price falls and decreases as it rises. Its mechanics and obligations depend on the instrument.

A journal records short as the position’s direction.

The difference between a reference or expected execution price and the actual fill price. The difference can be favorable or unfavorable and depends on the chosen reference.

A journal can retain both the reference price and actual fill for comparison.

A purchase or sale of an asset for settlement under the venue’s spot-market rules, rather than a derivative contract. Settlement timing depends on the venue and asset.

A journal can distinguish spot records from derivative records.

An order instruction intended to close or reduce a position when a specified trigger condition is met. Its execution depends on the order type and market conditions, so the trigger price is not a guaranteed fill price.

A journal can keep the recorded trigger level separate from the actual exit.

An order instruction intended to close or reduce a position at a specified target or trigger condition. Execution depends on the order type and available liquidity.

A journal can record target levels, revisions and any resulting fills.

A named workspace in tradeloggr that holds a separate set of trade records with its own exchange, settlement currency and history. It is the product’s term for a journal boundary.

Records filed in a tradespace stay associated with that space’s recording context.

Charges applied by an exchange or venue to order executions. Fee schedules may distinguish orders that add liquidity from those that remove it.

A journal can record fees by fill and currency, separately from funding.

A record of trades and the details, notes and decisions associated with them. It documents activity for later review.

A trading journal can keep timestamps, prices, quantities and notes together.

Profit or loss calculated for the open portion of a position using a reference valuation price. It changes with that price and is not a closed trade result.

A journal snapshot can identify the valuation price and timestamp used.

The proportion of closed trades classified as profitable within a defined sample. Its value depends on the cost basis and treatment of break-even trades and does not predict future results.

A journal summary can state which closed records and classification rules it includes.