What are the terms used in social trading?

[Jeff]

Help me understand the terms used in social trading.
 

[Bernedict]

In understanding social trading, there are several terminologies that one has to follow. Here are
some of the terms required to understand to make social trading easier. A broker is a company or
a person that acts as a middleman between the seller and the buyer. This broker gets a specific
commission when a trade or transaction is successful. A guru is a person identified as a person
who can be copied by other people when trading. A MetaTrader is a trading application that is
used by traders and trading companies, to sometimes carry out automatic trades. Stop Loss is
something used by traders to slow or set a limit and prevent a loss while trading. Asking price is
fixed or controlled by a market to either trade or sell a good or currency.
An Autotrading Platform is an automatic setting that grants permission for trading to be done in
your account without you consenting to it every time. This electronic trade is made by a robot or
a system of processes set by the business. This is called an Expert Advisor. Another tool used by
social traders is called High Water Mark. High Water Mark may get configured to make sure that
anyone managing your account or doing the trading on your behalf does not get paid until there
is a net profit.
When a broker holds onto a position that is usually profitable overnight, he may charge you
something known as an Overnight rollover. A trader may also come up with a strategy that may
not last long but give him a small profit in trading by moving from different currencies or
markets. This is known as Scalp trading or Scalpers.