Newbie, When To Place BUY trade?

Im totally newbie…:confused:
My question is, When do i need to place BUY trade?
I mean, based on what?
For example:-
Usually, i made BUY(long) trade randomly, and when it Open, i usually got a lot
-ve(red) sign…usually 8 9 pips…How do i minimize it?

[B]Do i need to place BUy trade based on Bid or Ask(Offer) price?[/B]:confused:

read the school.

Nobody can give you a simple andswer to that, everybody trades differently, some scalp (trade very short term). some are long term traders.

The best advise is equip yourself with the basics from the school that is more then a solid foundation for anybody new to forex, and from that point onwards you will form more specific questions.

I dont want to leave you with nothing so to go long you need some reason to do so, either based on charts or fundamentals that is up to you to decide how you wish to trade, but never trade on a whim that turns trading into gambling.

Good luck

N

cybersix

im real new to this like you. i started about 2 weeks ago. i agree with the last post. you need to go through the school. the more information you can get and learn the better. it helped me alot.

i have had luck trading Euro/USD. when the parabolic sar moves and the MACD lines cross i trade. And when the sar moves and the macd lines cross again i get out of the trade.

im using a demo account and have done well in this last week.

good luck

hi i can say that i am still not good… ive been trading for about a month… :slight_smile: i am using sar, stoch, rsi and macd… i will try your style delvis…

Welcome to the world of Pips. Though I have joined this site few days back. I am frequent visitor of this site and student of Babypips. I think you should start with school of pipsology and open a Demo account.
Things will get much clear. Best luck.

As others have pointed out, check out the babypips school, it covers all the basics and your question happens to be one of the most basic ones…good luck

It’s going to be much more useful for you if you go through the school and learn everything about trading, this way even if you understand what buy order is you can only make some bad decisions and lose some money because of it.