In trading, a lot is the minimum amount of an asset (stocks, commodities, precious metals, futures, etc.) that can be sold or purchased at one time. The lot size is determined by the rules of the exchange.

The purchase price is the monetary value of the asset at which the dealer accepts bids to purchase the asset.

The ask price is the opposite value at which the dealer accepts orders to sell a certain asset.

A long position (long position) is a position that a trader enters hoping to profit from the growth of the market.

A short position (short position) is a position that a trader enters in the hope of profiting from a falling market.

Stop Loss and Take Profit are types of protective orders that are placed to automatically close a trade. Stop loss limits the trader's possible losses, take profit helps to fix the profit when it reaches the desired level.