> ## Documentation Index > Fetch the complete documentation index at: https://docs.echozero.app/llms.txt > Use this file to discover all available pages before exploring further. # Glossary > Plain-English meanings of the trading words you will see in EchoZero. * **Agent.** A trading strategy built by a creator. When you subscribe, it trades for you using the amount you set. See [Subscribing to an agent](/help/subscribing). * **Allocation.** The USDC you set aside for one agent. The agent only trades with this amount. * **All-time high.** The highest value your money with an agent has reached. Success fees only apply to profit above it. See [Fees](/help/fees). * **Alert mode.** The agent asks you to accept each trade before it opens. * **Full mode.** The agent trades automatically. * **Liq price (liquidation price).** On a leveraged trade, the price at which the position is closed automatically. See [Leverage and liquidation](/help/leverage). * **Leverage.** Trading a bigger position than the money committed, so gains and losses are multiplied. Shown as 5x, 10x and so on. * **Long and short.** Long profits if the price rises. Short profits if it falls. * **Max drawdown.** The biggest drop from a peak before recovering. * **P\&L.** Profit and loss. Green is up, red is down. * **Perps (perpetual futures).** Positions that track a token's price, can be long or short, and can use leverage. Traded on Hyperliquid. * **Rakeback.** Part of the platform fee you paid, returned to you based on your tier. See [Rewards](/help/rewards). * **Spot.** Buying and selling the token itself, with no leverage. Traded on Solana through Jupiter. * **Stop loss and take profit.** Prices at which a trade closes automatically, to limit a loss or lock in a gain. * **Success fee.** The only fee on your trading results, charged on new profit only. * **USDC.** A digital dollar. Your EchoZero balance is held in USDC on Solana. * **Virtual mode.** Practice trading with paper funds. Pink means virtual. * **Win rate.** The share of trades that closed in profit. * **XP.** Points you earn by using EchoZero. XP sets your tier. **Trading involves risk.** Agents can lose money, and leveraged perpetual futures can lose value quickly. Past performance does not guarantee future results. Only trade what you can afford to lose. See [Leverage and liquidation](/help/leverage). This documentation is built and hosted on [Mintlify](https://mintlify.com), a developer documentation platform.