About trend and orders

On an uptrend or downtrend, when placing a buy or sell order and going with the trend, the candles will go up or down with price action. Open, close, high, low. This means price changes as the trend goes up or down. So, how does this effect your order to go long or short. I mean if you have a black candle the price goes down, so you lose pips, correct, if the candle is green or white it goes up, so you gain pips. So how does this average in or out with your order placement.

huh…?

73.8 approximately, on a good day, but could be less.

i think…

I guess I didn’t explain myself very well. I haven’t actually started any type of trading yet. Practice or live account. When placing a buy order in a trend the price action goes up and down within the channel. So are you actually placing an order lets say at the swing low and then somewhere along the trend you put in a stop. But as price action goes up and down with each candle are you losing or gaining within your buy or sell order. I am now just getting to the point of understanding all this insane stuff in Forex. Fibonacci, chart patterns, tops and bottoms, head and shoulders, triangles, wedges, pivot points, you name it. But I want to know it well enough to have a complete understanding of Forex, if there is a complete understanding, before I actually get my hands dirty. Hopefully I can go into stock day trading also.

if you zoom in enough, the market has a lot of “dither” which is the tiny up-and-down motion of price, seemingly random and relatively inconsequential to the larger picture (though with enough dithers, and large enough, it IS significant).

anyhoo, yes, let’s say you’re going long, which means you buy expecting the price to go up - you place an order (let’s assume a market order, which means “buy now, at whatever price is now”), and the price bumps around a bit. the price mostly doesn’t know that you just got in, nor does it care. yes, you’ll see variations in your temporary profit/loss, so you have to train yourself to partially ignore that or else you’ll go nuts. and yes, you typically should place a stop (actually a stop loss) a bit lower than what you bought just in case the picture isn’t what you thought and the market decides to take a run south. if you place it too close to where you bought, you’ll get knocked out of the market just by virtue of the tiny dither (noise) - but if you place it too far, you’ll have to suck up a larger dent if the market DOES genuinely move against you. it’s all a personal balance.

many people also place another stop order (which is typically actually a limit order) called a take-profit, which ought to be a fair bit UP from where you bought. how far? far enough for the trade to potentially be profitable once it does hit it, but not so far that it’s got no chance of hitting that point anytime this year. again, find a personal balance.

some people don’t place this second take-profit and they just let the price go UP and watch it, and when the price begins to fall back down a certain amount they say “ok, it’s falling down, cash me in”. that’s what a trailing stop is. some can be automatic, some can be whenever-the-user-feels-like-calling-it-a-done-trade.