Browse All 840 Stock Market Terms A–Z

Trading Psychology Market Psychology & Behavioural Finance qualitative The emotional and cognitive discipline required to follow a plan under uncertainty and financial pressure. Test: decisions taken under pressure match the rules set in advance, rather than being renegotiated in the moment

Trailing Price-to-Earnings Fundamental Analysis & Valuation ratio (x, times) The price-to-earnings ratio computed using earnings actually reported over the last twelve months. Trailing P/E = Current Market Price / Earnings per Share over the Trailing Twelve Months

Trailing Stop-Loss Orders, Execution & Market Structure qualitative A stop-loss whose trigger price follows a favourable move at a fixed distance and never moves back. For a long position: Trigger = Highest Price Since Entry - Trail Amount

Transaction Cost Orders, Execution & Market Structure % The full cost of trading a security, comprising explicit charges and the implicit costs of spread and market impact. Total Cost = Brokerage + STT + Exchange Fees + SEBI Fees + Stamp Duty + GST + Spread + Impact Cost

Treasury Bill Bonds & Fixed Income % A short-term government security issued at a discount to face value and redeemed at par, with no coupon. Yield = [(Face Value - Price) / Price] x (365 / Days to Maturity) x 100

Trend Technical Analysis & Chart Patterns qualitative A sustained directional tendency in price, described as up, down or sideways over a stated timeframe. Uptrend: successively higher highs and higher lows; Downtrend: successively lower highs and lower lows

Trend Following Technical Analysis & Chart Patterns qualitative A rules-based approach that enters in the direction of an established price move and exits when that move ends. Test: entry and exit are determined by a stated trend rule, with no forecast of turning points and no valuation input

Trendline Technical Analysis & Chart Patterns qualitative A straight line drawn to connect successive swing lows in a rise or successive swing highs in a fall. Test: the line touches at least two swing points and is confirmed by a third touch without being violated between them

Treynor Ratio Risk & Portfolio Management ratio (x, times) Return above the risk-free rate per unit of systematic risk, measured by beta. Treynor Ratio = (Portfolio Return - Risk-Free Rate) / Portfolio Beta

Triple Bottom Technical Analysis & Chart Patterns qualitative Three troughs at approximately the same price level separated by two peaks. Test: three lows within a small percentage of each other, with the highest intervening peak acting as the completion level

Triple Top Technical Analysis & Chart Patterns qualitative Three peaks at approximately the same price level separated by two troughs. Test: three highs within a small percentage of each other, with the lowest intervening trough acting as the completion level

TRIX Indicators & Oscillators % The percentage rate of change of a triple-smoothed exponential moving average of price. TRIX = Percentage change of EMA(EMA(EMA(Close, n), n), n)

Turnover Market Basics & Instruments ₹ crore The rupee value of trading in a security over a period, obtained by multiplying each trade's quantity by its price. Turnover = Sum of (Trade Quantity x Trade Price) over the period

Ultimate Oscillator Indicators & Oscillators % An oscillator combining buying pressure measured over three different lookback periods into a single weighted reading. UO = 100 x (4 x Average7 + 2 x Average14 + 1 x Average28) / 7, where each Average is Buying Pressure / True Range over that period

Underlying Asset Derivatives, Futures & Options qualitative The security, index, commodity or rate whose price determines a derivative's value. Test: the derivative's settlement value is computed by reference to this asset's price at a defined time

Unemployment Rate Economy, Macro & Market Cycles % The proportion of the labour force that is without work and actively seeking it. Unemployment Rate = Unemployed Persons / Labour Force x 100, where the Labour Force excludes those not seeking work

Union Budget Economy, Macro & Market Cycles ₹ crore The government of India's annual statement of estimated receipts and expenditure, presented on 1 February. Test: the document states revenue and capital receipts, revenue and capital expenditure, and the resulting deficits for the coming financial year

Units Funds, ETFs & Index Investing shares The divisions of a mutual fund scheme that represent an investor's proportional ownership of the pool. Units Allotted = Amount Invested / Applicable NAV

Unlisted Company Market Basics & Instruments qualitative A company whose shares are not admitted to trading on any stock exchange, so they can only be transferred privately. Test: no class of the company's shares is admitted to dealings on a recognised exchange

Unrealised Gain Market Basics & Instruments ₹ The paper profit on a position that is still held, measured as the difference between the current price and the purchase price. Unrealised Gain = (Current Market Price - Purchase Price) x Quantity Held

Unsystematic Risk Risk & Portfolio Management qualitative Risk specific to a single company or sector that can be reduced by holding a diversified portfolio. Test: the risk arises from factors particular to one issuer or industry rather than from market-wide conditions

Upper Circuit Orders, Execution & Market Structure ₹ The state in which a security is trading at the top of its permitted price band, with buy orders pending and no sellers. Upper Circuit Price = Previous Close x (1 + Band %)

Uptrend Technical Analysis & Chart Patterns qualitative A price sequence in which each significant high exceeds the previous high and each significant low exceeds the previous low. Test: current swing high > previous swing high, and current swing low > previous swing low

Value at Risk Risk & Portfolio Management ₹ The loss a portfolio is not expected to exceed over a stated period at a stated confidence level. Parametric VaR = Portfolio Value x Z-score for the confidence level x Standard Deviation of Returns over the period

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