Base Currency:The base currency is the "basis" for buy or sell.
e.g
If you buy USD/CAD this simply means that you are buying the base (USD) currency and simultaneously selling the quote currency.

Quote Currency:The quote currency is the second currency in any currency pair.
e.g.
If you selling USD/CAD this simply means that you are buying the quote (CAD) currency and simultaneously selling the base currency (USD).

Long/Bullish: In trading market this means BUY.

Short/Bearish: In trading market this means SELL.

Percentage In Point (PIP):A pip is the smallest price movement available in a currency.
eg If USD/CAD moves from 1.39667 to 1.39668 = 1pip
the 5^th decimal number in USD/CAD = 1.39667 to 1.39668 is the change of price is equal to 1 pips
For instance where you have USD/JPY = 100.509 use 3^rd decimal number as your pip.

Lot Size:Value used to determine profit or loss.
Standard Lot size :1.00 = $10 per pip
Mini Lot Size :0.10 = $1 per pip
Micro Lot Size :0.01 = 10 cent per pip
NB: this helps you to measure profit or loss.

Market Order:A market order is an order to buy or sell at the current market price.
Take Profit: A level where you decide to exit a trade with profit
Stop Loss: A level where you decide to exit a trade with loss.