A discreet way to talk about having sex.
"I've been trading Pokemon cards wit Luke all week long now!"-Lauren
When two virgins have sex and take each other's virginity.
Person 1: me and my boyfriend had sex last week!
Person 2: wow so you did trade pokemon cards?
Person 1: what?
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Trading someone's V card to someone else, typically done as a joke or to flex how many people you took a v card from
Person 1: OMG PERSON 2 HAS SO MANY V CARDS!?
Person 2: surprisingly yea, wanna trade some?
Person 3: I only have insert random name's...
Person 1: oh we are Trading V cards
Person 4: is that my v card... in someone else's hand...???