Electronic – What type of terminal is this

If you do the mechanical part of your job right, then there's no way that anything can be flopping around inside your box, just inviting disaster.

Here are a couple of examples of equipment laid out properly:

Notice how everything is laid out neatly, as if it were planned, and harnessed and secured properly in order to completely eliminate the possibility of an inadvertent mis-connection/short in the box.

Also, in the topmost photo, notice the use of crimp terminals and a Jones-type barrier strip secured to the chassis in order to make connections to a cable leading to the outside world, and a terminal board used to secure - and provide connections to - the resistor array.

This method of construction can be used universally where wiring by hand is required, will yield very reliable equipment, and eliminates the need for hot glue. ;)

Have a look at this table: https://wiki.xtronics.com/index.php/Wire-Gauge_Ampacity

It lists a source for the table and clearly states that the ampacity for free air is 7 amps. Free air means the wire is literally suspended in open air and not inside a raceway or enclosure. Inside of an enclosure or raceway, the maximum is 5 amps. BUT, remember that rating is limited by the thermal ability of the insulation. If you bundle multiple conductors all carrying a lot of current their combined heat output will add up. This the temperature up and can easily exceed the temperature rating of the insulation. So two wires carrying 4 amps might be fine. Eight bundled together might melt and/or become a fire hazard.