The market price is made of the bid rate and the offered rate. The bid rate is the highest price of buying interest in the market and the offered rate is the lowest price of selling interest. A player who wants to sell now have to join the present offered rate or hit the bid rate. He can sell at the higher price in case of joining offers but it remains unknown the possibility to sell at that stage. On the other hand, he can sell by hitting the bid rate without fail at any time but it would be lower price than the offered rate. The word 'given' means the condition in which any other player hits the bid rate. The repetition of 'given' shows great selling interest at the present market, and it might follow that the market level is going down.
Terms in Trading
Ask| Bid| Day order| Done| Either| Firm price| Given| GTC| Hit| If done| Join| Limit order| Line full| Mine| My Risk| Nothing done| OCO| OFF| Offer| Paid| Pay| Pips| Point| Single order| Stop loss orders| Take the offer| Taken| Your Risk| Yours|