SPEED
Speed is the ability of the disc to cut through the air. 10 is the fastest.
GLIDE
Glide descibes the property of the disc being able to maintain its loft during flight. More glide is best for new players and producing maximum disctance, especially downwind. A disc rates with a glide 7 has the most glide.
TURN - High Speed Turn
Turn is the tendency of the disc to bank (to go right for right handed backhand throwers) during the initial part of the flight. A disc with a +1 rating is most resistant to turning over, while a -5 rating will turn the most.
FADE - Low Speed Fade
At the end of the flight all discs tail off in the same direction (they all go left for right handed backhand throwers). But some will 'hook' harder than others. A disc with a 0 rating will finish the straigthest, with very little fade. A disc with a +5 rating will hook hard at the end of the flight.
OTHER WORDS USED IN DISCGOLF
Anhyzer or Annie
A throw with the far part of the disc (the side which you are not holding) tilted slightly upwards. Throwing this way will make an understable disc turn over and roll, while an overstable disc will come back during flight, or even fall left at the end (which will make the flight pattern an S-curve). In Ultimate frisbee ths throw is called an outside throw.
Hyzer
A throw with the far part of the disc (the side which you are not holding) tilted slightly downwards. Throwing this way will make an understable disc go flat, while an overstable disc will tilt further and bank left even harder. In Ultimate frisbee this throw is called an inside throw.

A hyzer shot can be used to go around trees or other obstacles. Giving the disc a lot of hight will ensure that the disc falls more to the left.

Overstable disc
A disc that has the tendency to bank to the left during flight, thrown by a right handed backhand.