Trader's glossary

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24/5 support · Soporte 24/5

Customer support available 24 hours a day Monday to Friday. At Sening Capital it operates in Spanish, Portuguese and English, with an average time to a first response by email of up to 4 hours. Category: Platform

2FA · Autenticación de dos factores

Two-step verification through an authenticator app or SMS. At Sening Capital it protects access to the personal area and the confirmation of withdrawal requests. Category: Security

A

A-Book · Modelo A-Book

A scheme in which the broker passes orders to the market and hedges its exposure externally. It is the model corresponding to the Sening Capital STP/ECN setup. Category: Orders and execution

Account manager · Gestor personal

A point of contact assigned from the Advanced plan upwards at Sening Capital. The role is operational and administrative; it does not issue personalised investment recommendations. Category: Partners and service

Additional account · Cuenta adicional

A supplementary account opened under the same client profile, usually in another currency. Sening Capital permits up to 10 accounts, with instant, free internal transfers. Category: Core concepts

Aggregate risk · Riesgo agregado

The sum of the risk of all open positions, counting correlated ones as a single position. The recommended limit is 3% of the deposit. Category: Risk management

American session · Sesión americana

The window from 13:00 to 22:00 GMT, corresponding to 07:00–16:00 in Mexico City. It is the right window for trading Latin American currencies, because the local banks are open. Category: Core concepts

AML · Anti-Money Laundering

The set of procedures for preventing money laundering and the financing of terrorism. It requires the client to be identified, transactions to be monitored and suspicious activity to be reported to the competent authority. Category: Regulation and KYC

Andrews pitchfork · Horquilla de Andrews

A drawing tool of three parallel lines drawn from three turning points, used to delimit trend channels. Category: Technical analysis

Approval · Aprobación

Confirmation of the payment by the card issuer or the payment system. A decline when depositing is usually down to the bank's restrictions on international transactions, not to an action by the broker. Category: Payments

Asian session · Sesión asiática

The window from 00:00 to 09:00 GMT, corresponding to 18:00–03:00 in Mexico City. It is characterised by narrow ranges and by the prominence of the yen and the Australian dollar. Category: Core concepts

Ask · Precio de compra

The price at which the trader buys the instrument. It is always higher than the Bid by the amount of the spread. Category: Core concepts

ATR · Average True Range

An indicator of the average true range over a period. It measures the normal amplitude of an instrument's movement. It is used to size the stop loss distance: the usual value is 0.5 to 1.0 ATR behind the structure level. It generates no entry signals. Category: Technical analysis

Audit · Auditoría

An independent annual review of the broker's financial statements, required by the licence. It covers, among other matters, the correct segregation of client funds. Category: Regulation and KYC

B

B-Book · Modelo B-Book

A scheme in which the broker retains the risk of client orders internally and acts as counterparty. It creates a structural conflict of interest that the STP/ECN model avoids. Category: Orders and execution

Balance · Saldo

The financial result of closed trades. It does not include the floating result of open positions: that is equity. Category: Core concepts

Banxico · Banco de México

The central bank of Mexico. It holds 8 monetary policy meetings a year. Its interest rate decisions are the main driver of USD/MXN. Category: Fundamental analysis

Base currency · Divisa base

The first currency of the pair, the one being bought or sold. In EUR/USD the base currency is the euro. Category: Core concepts

Basis point (bp) · Punto básico

One hundredth of a percentage point. A rate rise of 25 basis points equals 0.25%. Category: Fundamental analysis

BCCh · Banco Central de Chile

The central bank of Chile. It holds 8 meetings a year. Its decisions influence USD/CLP, although the copper price weighs more heavily on that pair. Category: Fundamental analysis

BCRP · Banco Central de Reserva del Perú

The central bank of Peru, with monthly meetings. It intervenes regularly to smooth fluctuations in the sol, which makes USD/PEN the least volatile pair in the region. Category: Fundamental analysis

Bid · Precio de venta

The price at which the trader sells the instrument. It is always lower than the Ask by the amount of the spread. Category: Core concepts

Boleto Bancário · Boleto

A Brazilian payment method using a barcoded slip. At Sening Capital crediting takes 1 to 2 business days, against 10 minutes for PIX. Category: Payments

Bollinger Bands · Bandas de Bollinger

A channel built on a moving average and two standard deviations. It measures volatility regimes: a narrowing of the channel frequently precedes an impulse, without indicating its direction. Category: Technical analysis

BOS · Break of Structure

A close of the price beyond the last relevant extreme, which invalidates the prevailing trend structure. It is confirmed by the close of the candle, never by a wick piercing the level. Category: Technical analysis

Break-even · Punto de equilibrio

The level at which the trade produces neither profit nor loss. Moving the stop to break-even after 1R has been covered removes the possibility of a winning position turning into a losing one, at the cost of more frequent closes at zero. Category: Risk management

Brent · Petróleo Brent

The North Sea crude benchmark. It is especially relevant for Latin America because its price feeds through to the Colombian peso with a lag of 1 to 3 days. Category: Instruments

Broker revenue model · Modelo de negocio del bróker

The intermediary's source of income. At Sening Capital it is the spread and the volume-based commission; the company is not a counterparty to the trade and does not profit from client losses. Category: Regulation and KYC

C

Candlestick · Vela

A graphical representation of the open, high, low and close of a period. It is the default chart format in Sening Capital. Category: Technical analysis

Carry trade · Carry trade

The strategy of holding a position to collect the positive swap arising from the rate differential. It works for years and is wiped out in days: a differential of 5.75% a year equals 0.016% a day, whereas an adverse move of 3% in one session cancels half a year of swap. Category: Fundamental analysis

CFD · Contract for Difference

An over-the-counter derivative instrument that settles in cash the difference between the opening and closing prices. It confers no ownership of the underlying asset and no shareholder rights. Category: Core concepts

CHoCH · Change of Character

The first sign that a trend is exhausting: the formation of an extreme contrary to the prevailing sequence, ahead of a confirmed break of structure. Category: Technical analysis

Client area · Área personal

The client's private space where verification, deposits and withdrawals, risk limits, leverage and tax reports are managed. Category: Platform

Commission · Comisión

A fixed charge on the volume traded, separate from the spread. At Sening Capital it applies from the Advanced plan upwards: 7 USD per lot round turn on Advanced and 3 USD on Institutional. On Essential and Active no commission is charged. Category: Costs

Compensation scheme · Fondo de garantía

An industry mechanism for compensating clients in the event of an intermediary's insolvency. Its existence and scope depend on the jurisdiction of the licence and must be verified on the regulator's register. Category: Regulation and KYC

Compliance · Cumplimiento normativo

The internal function responsible for verifying that legal and licence obligations are met, including KYC and AML. At Sening Capital it handles complaints at the second stage. Category: Regulation and KYC

Confirmation bias · Sesgo de confirmación

The tendency to look for information that supports a position already open and to discard information against it. It is neutralised by writing down, before entering, which specific fact would invalidate the idea. Category: Risk management

Confluence · Confluencia

The coincidence of several independent factors at the same point on the chart: structure, level, moving average, candlestick pattern and the absence of macro events nearby. An isolated signal is worth little; confluence is what raises expectancy. Category: Technical analysis

Contract size · Tamaño del contrato

The number of units of the underlying asset represented by one lot: 100,000 units of the base currency in currencies, 100 ounces in gold and 5,000 in silver. Category: Core concepts

Cooling-off period · Pausa obligatoria

A break in trading after the daily or monthly loss limit is reached. Its function is to cut the sequence of decisions taken under emotional pressure. Category: Risk management

COPOM · Comitê de Política Monetária

The monetary policy committee of the Central Bank of Brazil. It sets the Selic rate at 8 meetings a year and is the main monetary driver of USD/BRL. Category: Fundamental analysis

Copper · Cobre / HG

An industrial metal and the main export of Chile — close to 24% of world production — and of Peru — around 10%. Its price drags the Chilean peso with it at a correlation close to −0.80. Category: Instruments

Correlated risk · Riesgo correlacionado

The aggregate risk of positions whose movements depend on the same factor. Three long positions in EUR/USD, GBP/USD and AUD/USD at 1% each amount to a risk close to 3% on a single idea. Category: Risk management

Correlation · Correlación

A statistical measure of the relationship between the movements of two instruments, between −1 and +1. EUR/USD and GBP/USD sit around +0.85; USD/CLP and copper, −0.80. Correlated positions add risk: they must be counted as one. Category: Risk management

COT · Commitments of Traders

A weekly report from the US CFTC with the positions of large participants in the futures market. It serves to detect extremes of positioning: a record of long positions often precedes a turn. Category: Fundamental analysis

Counterparty · Contrapartida

The party taking the opposite side of a trade. In the Sening Capital STP/ECN model the counterparty is the liquidity provider, not the broker. Category: Orders and execution

CPI · Consumer Price Index

The consumer price index. Its core version, which excludes food and energy, better reflects sustained pressure on prices, and that is why the market reacts more strongly to it. Category: Fundamental analysis

Currency conversion · Conversión de divisa

The exchange between the deposit currency and the account currency. It is avoided by opening the account in the same currency as the payment method: MXN for SPEI, BRL for PIX. Category: Payments

D

Daily loss limit · Límite diario de pérdida

A configurable threshold which, once reached, technically blocks the opening of new positions until the next trading day. It is the effective countermeasure against tilt because it does not depend on the trader's will at the worst moment. Category: Risk management

Daviplata · Daviplata

A Colombian electronic wallet accepted for deposits and withdrawals at Sening Capital, with crediting within 15 minutes. Category: Payments

Decentralised market · Mercado descentralizado

A market with no single trading venue. The practical consequence is that no consolidated real volume and no official closing price exist in currencies. Category: Core concepts

Discretionary management · Gestión discrecional

The service of managing third-party funds. Sening Capital does not provide it: any offer to manage an account in its name with guaranteed profit is fraudulent. Category: Regulation and KYC

Divergence · Divergencia

A discrepancy between the direction of the price and that of the indicator: the price makes a new extreme and the indicator does not follow. It signals a loss of momentum, but on its own it is not an entry signal. Category: Technical analysis

Dividend adjustment · Ajuste por dividendo

A cash correction applied to share and index CFDs when the ex-date is crossed: credited on a long position and debited on a short one. It is not equivalent to owning the share. Category: Instruments

DOM · Depth of Market

The order book showing the volumes available at each price level. At Sening Capital it allows trading straight from the book with one click. Category: Platform

Dormant account · Archivo de cuenta

The status an account moves to after more than 12 months without trades. At Sening Capital funds are retained in full and remain available for withdrawal after contacting support; no inactivity fee is charged. Category: Regulation and KYC

Drawdown · Racha de pérdida

The fall in capital from its previous peak. Recovery is asymmetric: a 50% loss requires 100% growth. Formula: required growth = drawdown ÷ (1 − drawdown). Category: Risk management

Dynamic leverage · Apalancamiento dinámico

Automatic reduction of maximum leverage as the client's exposure grows. It limits the concentration of risk in very large positions. Category: Risk management

E

ECN · Electronic Communication Network

An execution model in which orders are routed directly to an electronic network of liquidity providers, without the broker acting as counterparty to the trade. Category: Orders and execution

EDD · Enhanced Due Diligence

An extended verification procedure applied to high-risk clients, such as politically exposed persons. It requires additional documentation and approval from the compliance officer. Category: Regulation and KYC

EMA · Exponential Moving Average

An exponential moving average, which gives more weight to recent data. The EMA(50) and the EMA(200) are used as a direction filter, not as an entry signal: moving average crossovers give low expectancy in currencies. Category: Technical analysis

Engulfing · Envolvente

A two-candle pattern in which the body of the second completely contains that of the first. It signals a change of control between buyers and sellers, provided it appears on a relevant level. Category: Technical analysis

Equity · Fondos

The balance plus the floating result of open positions. It is the figure used in calculating the margin level, not the balance. Category: Core concepts

European session · Sesión europea

The window from 08:00 to 17:00 GMT, corresponding to 02:00–11:00 in Mexico City. It concentrates the maximum volume in the euro and the pound. Category: Core concepts

Ex-dividend date · Fecha de corte

The date from which a share trades without entitlement to the dividend. CFDs held across it receive a cash adjustment: credited on a long position and debited on a short one. Category: Instruments

Exotic currency · Divisa exótica

The currency of an emerging or low-liquidity market, with wider spreads and liquidity hours restricted to the opening of its local banks. Category: Instruments

Expectancy · Esperanza matemática

The average result per trade over the long run. Formula: (percentage of winners × average win in R) − (percentage of losers × average loss in R). It is only reliable on a sample of at least 100 trades. Category: Risk management

Expiry · Vencimiento

The settlement date of a futures contract. Sening Capital CFDs on futures roll automatically to the next contract with the corresponding adjustment. Category: Instruments

Exposure · Exposición

The total notional value of open positions. It is different from risk: exposure measures size, risk measures the potential loss down to the stop. Category: Risk management

F

False breakout · Ruptura falsa

A level being pierced followed by a rapid return inside the range. It frequently reflects liquidity being taken beyond the level, ahead of a move in the opposite direction. Category: Technical analysis

Fed · Federal Reserve

The central bank of the United States. It holds 8 meetings a year and its decisions affect every dollar pair, gold and the indices. Category: Fundamental analysis

Fibonacci retracements · Retrocesos de Fibonacci

A set of proportional levels drawn over a stretch of movement, used to locate pullback zones. Their value increases when they coincide with structural levels marked beforehand. Category: Technical analysis

Financing adjustment · Ajuste por financiación

A charge or credit applied to share and index CFDs for the cost of financing the exposure. It serves the same purpose as the swap in currencies. Category: Costs

FIX API · Financial Information eXchange API

The industry-standard protocol for connecting institutional trading systems directly. At Sening Capital it is available on the Private and Institutional plans. Category: Platform

Floating spread · Spread flotante

A spread that varies with the liquidity of the moment. It widens in hours of low activity and during macroeconomic releases. Every Sening Capital plan operates with a floating spread. Category: Costs

FOMO · Fear Of Missing Out

Entering a move that has already happened, with no prior signal. It is recognisable because the stop ends up far away “because the structure is already gone”. The countermeasure is the rule of not entering without a level marked in advance. Category: Risk management

Forward guidance · Orientación futura

The part of a central bank statement that signals the future path of monetary policy. It frequently moves the market more than the interest rate decision itself. Category: Fundamental analysis

Free margin · Margen libre

Funds available to open new positions: equity minus used margin. It must cover the amount of any withdrawal request. Category: Core concepts

G

Gap · Hueco de cotización

A discontinuity between the close of one period and the open of the next, common at the Monday open after weekend events. A stop loss sitting inside the gap is executed at the first available price, not at the level set. Category: Orders and execution

Gold · Oro / XAU

A precious metal and the most traded non-currency instrument. It appreciates when real United States interest rates fall, when the dollar weakens and when geopolitical tension increases. Category: Instruments

H

Hedging · Cobertura

Opening an opposite position on the same instrument to lock in the current result. It is permitted on all six Sening Capital plans. Category: Orders and execution

Heikin Ashi · Heikin Ashi

A chart type that averages candle prices to filter noise and show the trend more clearly. It distorts the real open and close prices, so it should not be used to set entry levels. Category: Technical analysis

High-impact release · Dato de alto impacto

A macroeconomic release with a historical capacity to move the market sharply: rate decisions, inflation and employment. Sening Capital warns when less than 15 minutes remain until one of them. Category: Fundamental analysis

I

INPC · Índice Nacional de Precios al Consumidor

Mexico's inflation index, published twice a month. It is one of the central variables in Banxico's decisions. Category: Fundamental analysis

Inside bar · Barra interna

A candle whose range is contained within that of the previous candle. It indicates volatility compression and usually precedes an impulse, whose direction it does not anticipate. Category: Technical analysis

Interbank rate · Tipo de cambio interbancario

The rate at which financial institutions exchange currencies with each other. Sening Capital applies it when converting deposits made in local currency. Category: Payments

Interest rate differential · Diferencial de tipos

The difference between the interest rates of the two countries whose currencies form the pair. With Banxico at 10.25% and the Fed at 4.50%, the USD/MXN differential is 5.75%. It determines the size of the swap. Category: Fundamental analysis

Introducing Broker · IB / Socio presentador

A partnership model in which the partner receives remuneration on the volume traded by the clients they have introduced. At Sening Capital it runs from 4 to 8 USD per lot depending on the number of active clients. Category: Partners and service

IPCA · Índice de Preços ao Consumidor Amplo

Brazil's official inflation index, published monthly. It is COPOM's reference for setting the Selic rate. Category: Fundamental analysis

K

KYC · Know Your Customer

The client identification procedure required by the licence and by anti-money laundering rules. It requires an identity document and a proof of address, and in certain cases evidence of the source of funds. Category: Regulation and KYC

L

Latency · Latencia

The delay between an order being sent and its execution. The average Sening Capital declares is 28 milliseconds, with servers at Equinix LD4 and NY4. Category: Orders and execution

Latency arbitrage · Arbitraje de latencia

Exploiting the delay between the broker's quote and that of the underlying market. It is prohibited in the Sening Capital terms and conditions because it is not a market transaction but the exploitation of a technical fault. Category: Orders and execution

Leverage · Apalancamiento

The ratio between the volume of the position and the amount tied up as security. Leverage of 1:500 means that a position of 100,000 USD requires 200 USD of margin. It affects the margin, not the loss produced by a price move: that is determined by the size of the position and the distance to the stop loss. Category: Core concepts

Limit order · Orden limitada

An entry order at a price better than the current one: Buy Limit below the price and Sell Limit above it. It suffers no negative slippage, but it may not be filled. Category: Orders and execution

Liquidity · Liquidez

The ability to execute a given volume without moving the price. Its reduction widens the spread and increases slippage; that is why trading the region's currencies overnight is expensive. Category: Core concepts

Liquidity aggregator · Agregador de liquidez

A system that gathers the quotes of several liquidity providers and selects the best Bid and the best Ask available at each instant. Sening Capital aggregates 11 providers; the result is the price the client sees in Sening Capital. Category: Orders and execution

Liquidity gap · Ruptura de liquidez

A momentary absence of orders at the intermediate prices, common during macro releases. It is why a stop loss can be executed dozens of pips below the level set. Category: Orders and execution

Liquidity provider · Proveedor de liquidez

An institution — usually a bank or an institutional market maker — that publishes executable quotes. Sening Capital aggregates 11 providers in its STP/ECN model. Category: Orders and execution

Liquidity sweep · Recogida de liquidez

A move that runs through an obvious extreme to trigger the stops accumulated there and then returns to the range. It explains a good share of false breakouts. Category: Technical analysis

Liquidity window · Horario de liquidez

The window in which an instrument shows a normal spread and sufficient depth. For Latin American currencies it coincides with the opening hours of their local banks. Category: Instruments

Login history · Registro de accesos

A history of sign-ins with date, device and IP address, available from the Sening Capital personal area. Category: Security

Long · Posición larga

Buying the instrument in the expectation of a price rise. In currencies it amounts to buying the base currency and paying with the quote currency. Category: Core concepts

Losing streak · Serie de pérdidas

A succession of consecutive losing trades. With a system that wins 50% of the time, the probability of a run of ten over 200 trades is above 15%: risk has to be sized assuming it will happen. Category: Risk management

Lot · Lote

The standard unit of volume. In currencies a standard lot equals 100,000 units of the base currency, a mini lot 10,000 and a micro lot 1,000. The minimum volume at Sening Capital is 0.01 lots. Category: Core concepts

M

MACD · Moving Average Convergence Divergence

A momentum-change indicator built on the difference between two moving averages. It is useful as a confirmation filter on the higher timeframe, not as an independent signal. Category: Technical analysis

Margin · Margen

The amount the broker ties up as security for an open position. Formula: (volume × contract size × price) ÷ leverage. Category: Core concepts

Margin Call · Margin Call

The warning that the margin level has fallen to a critical value. At Sening Capital the threshold depends on the plan: 100% on Essential and Active, and as low as 60% on Institutional. Category: Risk management

Margin level · Nivel de margen

The ratio of equity to used margin, expressed as a percentage: (equity ÷ margin) × 100%. It determines when Margin Call and Stop Out are triggered. Category: Risk management

Market consensus · Consenso de mercado

The average analyst forecast for a macroeconomic figure. The market's reaction is determined by the deviation of the actual figure from this consensus, not by the figure itself. Category: Fundamental analysis

Market execution · Ejecución de mercado

An execution mode in which the order is completed at the best price available at the time, with no requote. It is the model Sening Capital uses. Category: Orders and execution

Market order · Orden de mercado

An instruction for immediate execution at the best price available. It is the order type exposed to slippage when liquidity thins out. Category: Orders and execution

Mean reversion · Reversión a la media

A family of strategies betting on the price returning to an average value. It works in a range and loses money in a trend, the opposite of trend following. Category: Technical analysis

Minimum lot · Lote mínimo

The smallest volume permitted per trade. At Sening Capital it is 0.01 lots on all six plans. Category: Core concepts

Minimum trade size · Volumen mínimo de operación

The smallest amount permitted in an order. At Sening Capital it is 0.01 lots on all six plans, which allows risk to be adjusted precisely on small deposits. Category: Core concepts

Monetary base · Base monetaria

Money in circulation plus the reserves of commercial banks at the central bank. Its expansion tends to weaken the currency in the medium term. Category: Fundamental analysis

Moving average · Media móvil

The average of the price over a given number of periods. It smooths noise and defines the dominant direction, but it lags by construction. Category: Technical analysis

Multi-timeframe analysis · Análisis multitemporal

A method combining three timeframes: the higher one for context, the working one for the entry zone and the lower one for the trigger. Adjacent timeframes should be in a ratio of 1:4 or 1:6. Category: Technical analysis

N

Nearshoring · Nearshoring

The relocation of production chains to countries close to the destination market. It is a structural factor in demand for the Mexican peso and a variable routinely tracked for USD/MXN. Category: Fundamental analysis

Negative balance protection · Protección de saldo negativo

The policy under which a negative balance on a retail client's account is reset to zero. The maximum loss is limited to the amount deposited and no debt to the broker arises. It applies automatically at Sening Capital. Category: Regulation and KYC

Nequi · Nequi

A Colombian electronic wallet accepted for deposits and withdrawals at Sening Capital, with crediting within 15 minutes and no broker fee. Category: Payments

NFP · Non-Farm Payrolls

The United States non-farm employment report, published on the first Friday of each month at 13:30 GMT. It is the most volatile regular event of the month: the spread widens by 5 to 20 times at the moment of release. Category: Fundamental analysis

O

OCO · One Cancels the Other

A pair of linked orders in which executing one automatically cancels the other. At Sening Capital it is managed on the server. Category: Orders and execution

Open positions limit · Número de posiciones abiertas

The maximum number of simultaneous positions permitted by the plan: 100 on Essential, 200 on Active, 400 on Advanced, 600 on Elite and unlimited on Private and Institutional. Category: Core concepts

Order ticket · Ventana de orden

The panel for entering orders. In Sening Capital it incorporates the position size calculator and the warning about upcoming macro events. Category: Platform

Over the counter (OTC) · Mercado extrabursátil

A decentralised market in which transactions are agreed directly between participants, with no central exchange. The currency market is over the counter, which is why no consolidated real volume exists. Category: Core concepts

Overtrading · Sobreoperativa

Placing more trades than the system justifies. It does not improve the result and increases costs directly. Category: Risk management

OXXO · OXXO

A Mexican convenience store network that accepts cash payments. At Sening Capital a deposit via OXXO is credited within 2 hours of payment at the till. Category: Payments

P

PagoEfectivo · PagoEfectivo

A Peruvian payment method in cash or through online banking, accepted for deposits at Sening Capital with a minimum of 940 PEN. Category: Payments

Partial close · Cierre parcial

Closing part of a position's volume while keeping the rest open. At Sening Capital it is executed on the server and lets you lock in profit while retaining exposure. Category: Orders and execution

Password hashing · Cifrado de contraseñas

Storing passwords using a cryptographic hash function. Sening Capital uses bcrypt: passwords are not recoverable, only resettable. Category: Security

Payer matching rule · Regla de coincidencia del pagador

The requirement that deposits come from payment instruments in the account holder's name and that withdrawals be made by the same method. It derives from AML rules and admits no exceptions. Category: Regulation and KYC

PCE · Personal Consumption Expenditures

The United States personal consumption expenditures price index. It is the inflation measure the Federal Reserve prefers for its decisions. Category: Fundamental analysis

PCI DSS · Payment Card Industry Data Security Standard

The security standard for handling card data. Sening Capital payments are processed through certified Level 1 gateways and the company does not store full card numbers. Category: Security

PEP · Politically Exposed Person

A prominent public official, their family members and close associates. This classification requires enhanced due diligence (EDD) and means the account opening must be authorised by the compliance officer. Category: Regulation and KYC

Pin bar · Pin bar

A candle with a long wick indicating a rejected price. It is only worth something on a level marked in advance and after a prior move; in the middle of a range it means nothing. Category: Technical analysis

Pip · Punto

The minimum standard change in price: the fourth decimal place in most pairs (0.0001) and the second in yen pairs (0.01). In XXX/USD pairs a pip is worth 10 USD per standard lot. Category: Core concepts

Pip value · Valor del pip

The amount of money one pip represents for a given volume. Formula: (pip size ÷ quote) × contract size × volume. In EUR/USD it is 10 USD per standard lot; in USD/MXN at 18.50, around 0.54 USD. Category: Core concepts

Pipette · Pipeta

One tenth of a pip, corresponding to the fifth decimal place of the quote. In 1.08503 the pipette is the final digit. Category: Core concepts

PIX · PIX

Brazil's instant payment system. At Sening Capital a deposit is credited within 10 minutes and a withdrawal arrives in under an hour once processed, with no broker fee. Category: Payments

Plan threshold · Umbral de plan

The balance from which an account plan applies. An upgrade is automatic on the next business day; a downgrade only happens if the balance stays below for 30 consecutive calendar days. Category: Core concepts

Point and Figure · Point & Figure

A chart type that represents only price movements of significant magnitude, dispensing with the time axis. Useful for identifying levels, not for measuring duration. Category: Technical analysis

Policy meeting · Reunión de política monetaria

The session at which the central bank decides the benchmark interest rate. What matters to the market is usually the statement and the subsequent minutes, rather than the decision itself. Category: Fundamental analysis

Position size · Tamaño de posición

The volume calculated from the risk accepted: (deposit × risk%) ÷ (stop in pips × pip value). It is calculated after the stop has been set, never before. Category: Risk management

Price alert · Alerta de precio

A configurable notice triggered when the instrument reaches a given level. At Sening Capital it can be sent by push, email or internal notification. Category: Platform

Proof of address · Verificación de domicilio

A document no more than 3 months old evidencing the client's address: a utility bill, bank statement, telephone bill or tenancy agreement, with full name, address and date visible. Category: Regulation and KYC

Proof of identity · Verificación de identidad

A valid official photographic document: the INE in Mexico, cédula de ciudadanía in Colombia, DNI in Peru and Argentina, RG or CNH in Brazil, cédula de identidad in Chile, or a passport. Category: Regulation and KYC

PSE · Pagos Seguros en Línea

A Colombian platform for payments by online bank debit, accepted for deposits and withdrawals at Sening Capital with crediting within 30 minutes. Category: Payments

Push notification · Notificación push

An alert sent to the mobile application on a price being reached, a change in the spread or a news release. Configurable in Sening Capital. Category: Platform

Q

Quote currency · Divisa cotizada

The second currency of the pair, in which the price is expressed. In EUR/USD the quote currency is the US dollar. Category: Core concepts

Quote refresh · Refresco de cotización

How often the platform updates prices. At Sening Capital updating is continuous via WebSocket. Category: Platform

R

R-multiple · R múltiplo

A unit for measuring the result of a trade, equal to the size of the risk taken. If you risk 50 USD, 1R = 50 USD, and a profit of three times the risk is expressed as +3R. It allows results to be compared across different deposits and instruments. Category: Risk management

Range · Mercado lateral

A phase in which the extremes oscillate within a horizontal corridor, with no consistent displacement. Trend-following strategies lose money in this phase, which makes it essential to validate any system on history that includes ranging stretches. Category: Technical analysis

Real yield · Rendimiento real

The nominal interest rate minus inflation. Its fall in the United States is usually accompanied by rises in gold. Category: Fundamental analysis

Rebate · Devolución de comisión

Part of the commission returned to the client on the volume traded. At Sening Capital it runs from 0.5 USD per lot on Advanced to 2 USD on Institutional. Category: Costs

Remittances · Remesas

Money transfers from workers abroad to their country of origin. In Mexico they exceed 63 billion USD a year and constitute a structural factor in demand for pesos. Category: Fundamental analysis

Renko · Renko

A chart type built from blocks of fixed movement, regardless of time. It filters noise and makes trends easier to read, but it removes the time information. Category: Technical analysis

Requote · Recotización

The offer of a price different from the one requested at the moment the order is executed. In the Sening Capital STP/ECN model 99.7% of orders are filled without a requote. Category: Orders and execution

Risk-off · Risk-off

A market regime in which capital seeks safe-haven assets — the dollar, the yen, the Swiss franc and gold — and emerging market currencies weaken. It is usually associated with a VIX above 25. Category: Fundamental analysis

Risk-on · Risk-on

A market regime with appetite for risk, in which capital flows into emerging market currencies such as the MXN, the BRL and the COP. Category: Fundamental analysis

Risk/Reward ratio (R:R) · Relación riesgo/beneficio

The proportion between the distance to the stop loss and the distance to the target. The minimum acceptable is 1:2. The win rate needed to break even is calculated as 1 ÷ (1 + R:R). Category: Risk management

Rollover · Rollover

Rolling the position to the next value date, the moment at which the swap accrues. It happens at midnight server time. Category: Costs

RSI · Relative Strength Index

The relative strength oscillator. A reading above 70 is not a sell signal: in strong trends it stays overbought for weeks. Its practical usefulness lies in divergences. Category: Technical analysis

S

Sanctions screening · Sanciones

Screening clients against the lists of the UN, OFAC, the European Union and local authorities, carried out at registration and periodically thereafter. Category: Regulation and KYC

Segregated account · Cuenta segregada

A bank account in which client funds are held separately from the broker's operating capital. It is an obligation of the Sening Capital licence, with daily reconciliation and verification in the annual audit. Category: Regulation and KYC

Self-exclusion · Bloqueo temporal de cuenta

A responsible trading tool that lets you voluntarily lock the account for a period of between 24 hours and 6 months. It is requested from the personal area. Category: Security

Selic · Taxa Selic

Brazil's benchmark interest rate, set by COPOM. It is the main monetary driver of USD/BRL, although the real is historically more sensitive to fiscal news. Category: Fundamental analysis

Server-side orders · Órdenes en servidor

Orders stored and executed on the broker's infrastructure rather than on the client's device. At Sening Capital every protective order, trailing stop included, is server-side. Category: Platform

Session overlap · Solape de sesiones

The coincidence of the European and American sessions, from 13:00 to 17:00 GMT. It is the window of maximum liquidity, with minimum spreads and maximum volatility. Category: Core concepts

Settlement price · Precio de liquidación

The reference price used for the daily close of CFDs on futures and indices and for calculating adjustments. Category: Instruments

Sharpe ratio · Ratio de Sharpe

A measure of return adjusted for volatility. In retail trading it contributes less than expectancy in R, because it penalises upside and downside volatility equally. Category: Risk management

Short · Posición corta

Selling the instrument in the expectation of a price fall. In currencies it amounts to selling the base currency and buying the quote currency. Category: Core concepts

Silver · Plata / XAG

A hybrid metal, both precious and industrial. Its volatility is 2 to 3 times that of gold at a comparable position size, which forces the volume to be reduced. Category: Instruments

Slippage · Deslizamiento

The difference between the price requested and the actual execution price. It occurs when there are not enough orders at the price asked, above all during macroeconomic releases or at the market open. It can be negative or positive. Category: Orders and execution

SPEI · Sistema de Pagos Electrónicos Interbancarios

Mexico's interbank transfer system. At Sening Capital a deposit is credited within 30 minutes during banking hours, with a minimum of 4,600 MXN. Category: Payments

Spread · Diferencial

The difference between the Ask and Bid prices. It is the main cost component on commission-free accounts. At Sening Capital it starts at 1.4 pips on Essential and at 0.0 pips on Institutional for EUR/USD. Category: Costs

Stock index · Índice bursátil

A weighted basket of shares representative of a market. At Sening Capital it trades as a CFD on futures, with no physical delivery and with dividend adjustment. Category: Instruments

Stop Loss · Stop Loss

An order that limits the loss on a position. It is placed behind the level whose break invalidates the idea of the trade, plus a margin of 0.5 to 1.0 ATR. At Sening Capital it is executed on the server. Category: Risk management

Stop order · Orden stop

An entry order at a price worse than the current one, in the direction of the move: Buy Stop above the price and Sell Stop below it. It is used in breakout strategies. Category: Orders and execution

Stop Out · Stop Out

The margin level at which the platform forcibly closes losing positions, starting with the largest loss. At Sening Capital it runs from 40% on Essential to 15% on Institutional. Category: Risk management

STP · Straight Through Processing

An execution model in which client orders are passed directly to the liquidity providers with no manual intervention by the broker. Category: Orders and execution

Strategy builder · Constructor de estrategias

A Sening Capital tool that lets you assemble algorithms from blocks — entry condition, filter, position size and exit rules — without writing code, and validate them in the built-in tester. Category: Platform

Strategy tester · Tester de estrategias

The Sening Capital module that runs a strategy over historical quotes and returns expectancy, drawdown and the distribution of results. Category: Platform

Sub-affiliate account · Subcuenta de socio

An identifier that lets a partner separate traffic by source and measure the performance of each channel individually. Category: Partners and service

Swap · Financiación nocturna

A charge or credit for rolling a position past the server's midnight, calculated on the rate differential of the pair's currencies. On the night from Wednesday to Thursday it accrues three times over because of T+2 settlement. Category: Costs

Swap-free · Cuenta sin swap

An arrangement in which no swaps accrue, granted on religious grounds on request. In its place a fixed charge applies for holding a position more than 3 days. Category: Costs

T

T+2 · Liquidación T+2

The settlement convention for currency transactions two business days later. It is the reason a position rolled over on Wednesday night crosses the weekend and accrues a triple swap. Category: Core concepts

Take Profit · Take Profit

An order that closes the position on reaching the planned profit level. It is set before entering and should not be reduced once the position is open. Category: Orders and execution

Tax obligations · Impuestos

Determining and paying taxes on the financial result, the client's responsibility under the law of their country of tax residence. Sening Capital provides reports in PDF, CSV and XLSX, but does not give tax advice. Category: Regulation and KYC

Tick · Tick

An individual change in price. Tick volume counts how many times the price changed over a period; it is not the real volume of trades. Category: Core concepts

Tick volume · Volumen de ticks

The number of price changes over a period. It is what currency platforms show in place of real volume, which is not available in a decentralised market. It correlates with real volume at around 0.85. Category: Technical analysis

Ticker · Símbolo

The abbreviated code of an instrument, such as EUR/USD, XAU/USD or MEX35. At Sening Capital the Mexican IPC trades under the ticker MEX35. Category: Core concepts

Tilt · Tilt

The state after a run of losses in which the trader increases volume to win it back. It is the most destructive mechanism in trading and is only neutralised by a technical daily loss limit, not by willpower. Category: Risk management

Timeframe · Marco temporal

The aggregation interval of the chart's candles. Sening Capital offers 21 timeframes, from 1 minute to 1 month. Adjacent timeframes in three-screen analysis should be in a ratio of 1:4 or 1:6. Category: Technical analysis

TLS 1.3 · Transport Layer Security 1.3

The encryption protocol for the communication channel. Every connection to Sening Capital and to the Sening Capital platform uses it. Category: Security

Trade report · Informe de operaciones

A statement of trades, commissions and swaps for a given period, exportable from Sening Capital in PDF, CSV and XLSX. Category: Platform

Trading hours · Horario de negociación

The window in which an instrument can be traded. Currencies trade continuously Monday to Friday; cryptocurrencies, 7 days a week; indices and shares, according to the reference exchange. Category: Instruments

Trading journal · Diario de operaciones

A systematic record of every trade with the reason for entry, the levels, the result in R and whether the rules were followed. It is the only instrument that turns experience into statistics and makes it possible to calculate expectancy. Category: Risk management

Trading system · Sistema de trading

A set of entry, management and exit rules with positive expectancy verified over at least 100 trades and over a history that includes both trending and ranging phases. Category: Risk management

Trailing Stop · Trailing Stop

A stop loss that moves automatically behind the price at a fixed distance, never going back. At Sening Capital it is executed on the server and stays active with the device switched off, unlike terminals where it runs locally. Category: Risk management

True range · Rango verdadero

The greatest of the following three distances: the period's high minus its low, the high minus the previous close, and the low minus the previous close. It is the quantity the ATR averages. Category: Technical analysis

Trusted device · Dispositivo de confianza

A machine registered by the client from which access does not require full additional verification. The list is managed and revoked from the personal area. Category: Security

U

Uptime · Disponibilidad

The percentage of time the platform is operational. The figure Sening Capital declares is 99.95%. Category: Platform

USDT · Tether

A stablecoin pegged to the dollar, accepted at Sening Capital on the TRC-20 and ERC-20 networks, with crediting within 30 minutes and withdrawal within 1 hour. Category: Payments

V

Verification · Verificación

Checking the client's identity and address. At Sening Capital the standard timeline is up to 24 hours on business days, extendable to 5 business days if additional documentation is requested. Category: Regulation and KYC

VIX · Volatility Index

The implied volatility index of the S&P 500, used as an indicator of the risk regime. Readings above 25 usually signal risk-off and weakness in emerging market currencies. Category: Fundamental analysis

Volatility · Volatilidad

The amplitude of price variation over a period. It is measured with the ATR and determines what stop loss distance is reasonable for each instrument. Category: Technical analysis

VWAP · Precio medio ponderado

The volume-weighted average price of the period. It is used as an intraday fair value reference, above all in indices and shares. Category: Technical analysis

W

Webpay · Webpay

A Chilean payment gateway accepted for deposits at Sening Capital with a minimum of 240,000 CLP and crediting within 30 minutes. Category: Payments

WebSocket · WebSocket API

The persistent connection protocol used to stream real-time quotes. At Sening Capital it is available to developers from the Active plan upwards. Category: Platform

Weekly analysis call · Llamada semanal de análisis

A regular session included in the Sening Capital Private plan. It is informational in nature and does not constitute a personalised investment recommendation. Category: Partners and service

Working timeframe · Marco operativo

The intermediate timeframe in three-screen analysis, on which the entry zone is located. It is usually H1 or M30 when the higher timeframe is D1 or H4. Category: Technical analysis

WTI · West Texas Intermediate

The United States crude benchmark. Its main weekly fixture is the EIA inventories report, on Wednesdays at 15:30 GMT. Category: Instruments

Y

Yape · Yape

A Peruvian electronic wallet accepted for deposits at Sening Capital with a minimum of 940 PEN and crediting within 30 minutes. Category: Payments