I've been demoing Oanda's platform and I have some general questions about trading.
Let's say I buy 100K units of EUR/USD. When I click "sell" to sell 100K units of EUR/USD, it comes up in my account as another transaction, rather than taking my current 100K units out of my account.
I'm used to stocks where you buy 100 units and then if you're going to sell 100 units, well, it would take them from the 100 units you already own, not give you a second set of 100 units to sell.
So what I've been doing in the demo account is when I buy 100k units and then want to sell it, rather than clicking "sell", I just go to edit that transaction and click "close" for those units. Same with when I sell 100K units and the price goes down, I just go in and "close" those units and take my gains.
But I'm afraid that by just going in and clicking "close", that I'm closing that position at market rather than at a set price... am I right about that?
I think to sum up, how can I buy units of EUR/USD in such a way that I set the buy price (limit order, I know that) but then it automatically gets sold at a preset value (is it possible to put in the "buy" and "sell" price for the same block of units at the time of purchase?) Same with the opposite (ie - set prices to "sell" and "buy" at time of sell.)
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