Major Auction - The overall trend of the market such as might be observed on a bar chart.

Mandelbrot Set - Complex but structured pattern produced by an equation in which the result is fed back into the equation repeatedly; self-similarity.

Mapping - A function, or relation between values.

Margin or Forward Margin - The premium or discount for the term and currency involved in a forward exchange contract.

Margin/Spread - The differences between the buying and selling rates of a foreign exchange quotation or between the borrowing and lending rates in deposits. The expression is also used with respect to offshore loans as being the difference between cost of borrowing and return from lending.

Market to Market - At the end of each business day the open positions carried in an account held at a brokerage firm are credited or debited funds based on the settlement price of the open positions that day.

Market Breadth - The shares of a particular stock traded during a specific period. Usually refers to the overall strength and trading volume of the market.

Market If Touched - Resting order with the floor broker that becomes a market order to be executed if the trigger price is traded.

Market Maker - A broker or bank continually prepared to make a two-way price to purchase or sell for a security or currency.

Market on Close - An order specification that requires the broker to get the best price available on the close of trading, usually during the last five minutes of trading.

Market Order  - Instructions to the broker to immediately sell to the best available bid or to buy from the best available offer.

Market Risk  - The uncertainty of returns attributable to fluctuation of the entire market.

Market Sentiment - Crowd psychology, typically a measurement of bullish or bearish attitudes among investors and traders.

Market Timing - Using analytical tools to devise entry and exit methods.

Market Value - Company value determined by investors, obtained by multiplying the current price of company stock by the common shares outstanding.

Markov Chain - A set of processes where the probabilities for the next state are dependent on the present state.

Maximum Adverse Excursion - A historical measurement of the closed losing trades versus the closed profitable trades of a trading system

Mean Deviation - The average absolute value of the difference between the population of numbers and the mean.

Mean P/L - The average profitability of a trader's account, as measured over a given period.

Mean Return - The average monthly total return of a stock. The total return is price change added to dividends.

Mean Reverting - The term adopted in academic literature for one possible state of a price series: that state when price is oscillating randomly about some (unknown) mean value.

Minor Auction - The latest trend of the market, i.e., what it is doing now.

Money Stop - A fixed amount of money that a market participant would lose if a stop were hit.

Moving Average Convergence/Divergence (MACD) - The crossing of two exponentially smoothed moving averages that are plotted above and below a zero line.

Moving Average Crossovers  - The point where the various moving average lines intersect each other or the price line on a moving average price bar chart.

Moving Window - Snapshot of a portion of a time series at an instant in time. The window is moved along the time series at a constant rate.

Multiple Linear Regression - More than one independent variable is used to account for the variability in one dependent variable.