Jargon by Jeremy Stevens You don't have to memories these, just sprinkle lightly during dinner with your significant other's snooty friends...

Bulls and Bears - A Bull market is a market on the rise, a Bear market on the decline. This description originated from the manner in which the respective animals attack. Bulls thrust up with their horns, while bears strike down with their claws. The terms are said to have come out of the bullrings and bear pits in Southwark, which were frequented by traders after work.

Candlestick Chart - A chart that indicates the trading range for the day, in other words the gap between the opening and closing price. Shaded candles on a chart mean that the open price was higher than the close price, while non-shaded candles (yup, you guessed it) mean that the close price was higher than the open price.

Derivative - A contract that changes in value in relation to the price movements of a related or underlying security, future or other physical instrument. An 'option' is the most common derivative instrument.

Futures Contract - An obligation to exchange a good or an instrument at a set price on a future date. Basically, a contract agreeing that at a given date in the future, an agreed price will be offered for that good or instrument.

Hedge A position or combination of positions that reduces the risk of your primary position.

Limit order - An order placed on a specific trade which places a restriction on the maximum price to be paid or the minimum price to be received.

Pips More than just fruit seeds, a pip is the words used to describe the smallest unit of price for any foreign currency. Pips are also referred to as 'points'.

Whipsaw - Slang describing a condition in a highly volatile market where a sharp price movement is quickly followed by a sharp reversal.

Yard Slang for a 'milliard', which is one thousand million.