Mine and yours? Every profession has its own jagons, which resonate with its mood of operation. The trading and forex space is no different and there are more than hundreds of terms.
In this article, we will be discussing the trading term “mine and yours,” what it means, how it is used, and other important aspects of this term.
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What Does “Mine” Mean in Trading?
“Mine” and “yours” represent fundamental terms in trading jargon, historically used by traders and brokers. These phrases signal buying and selling intentions
Originating from open outcry trading floors, these terms were audible cues facilitating quick communication amidst chaotic trading environments.
When a trader says “mine,” it means they are buying a specific currency pair at the quoted price.
This term is often used in over-the-counter (OTC) trading or within chat systems among professional traders.
For example:
A trader sees a quote of EUR/USD at 1.1050/1.1052 and says, “Mine!” This means they are buying euros at 1.1052.
What Does “Yours” Mean in Trading?
On the other hand, “yours” signals a sell order. When a trader responds with “yours,” they are agreeing to sell the currency pair at the given price.
For example:
A dealer offers GBP/USD at 1.2550/1.2552, and another trader replies, “Yours!” This means they are selling GBP at 1.2550.
Why do traders use this term?
- Speed: Forex markets move quickly. These short terms help traders confirm transactions instantly.
- Clarity – Using direct phrases reduces misunderstandings in the trading environments.
- Professional Jargon: Banks, hedge funds, and institutional traders commonly use these terms in interbank trading.
Conclusion
Understanding “mine” and “yours” helps forex traders communicate efficiently in active markets. These simple yet powerful terms ensure quick transactions and clear intentions in trading desks worldwide.
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