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LINK / CITE ADD TO WORD LIST. noun. The definition of a notion is an idea, belief or vague knowledge of something. 1  An example of a notion is when you have an idea of what acceptable behavior is. 2  An example of a notion is when you sort of remember hearing about a particular fact.INK / CITE ADD TO WORD LIST. noun. The definition of a notion is an idea, belief or vague knowledge of something. 1  An example of a notion is when you have an idea of what acceptable behavior is. 2  An example of a notion is when you sort of remember hearing about a particular fact.
Notional Value. Loading the player... What is 'Notional Value'. Notional value is the total value of a leveraged position's assets. This term is commonly used in the options, futures and currency markets which employ the use of leverage, wherein a small amount of invested money can control a large position in the markets.