I am a beginner with PatronFX/cyprus. They adv me to devise my equity in buy and sell currency pairs. I have several pairs. Now e.g. Eur/usd made profit. What to do.? Thanks
Why are you advertizing a dubious broker ?
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if you are new then follow me i can guild you not all words are allowed on the site okay?
Stop trading.
Close all your positions until you have got a strategy to follow.
Do not buy or sell what your broker tells you.
Open a demo account and practice trading with virtual funds until you become consistently profitable.
What made you think that opening an account with a company based in Cyprus was a good idea?
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yeah, I lost a lot of money already because of not good information, but they want me to get even and try to help me, but until now no result.
my E1.400 is now worth 1.000.
They let me invest in currency pairs and buy as wel as sell…so e.g. eur/usd buy and sell 0.3 pip and so on.
but now the euro is profitable…what to do with the sell trade…and when I sell the buy, what will it do with my account. Will it influence mij balance?
regards
Yes, some brokers based in some jurisdictions let you buy and sell the same pair. But you can’t make a profit that way until you close one or the other of the two positions - otherwise they just match each other and the gains cancel out the losses.
When you close a trade, its unrealised losses become losses from your account capital. That’s life.
I do not believe any broker tries to help a client make a profit. They don’t care if you make a profit or not, they just want the client to trade more and more as they make a gain on each trade you make. Stop listening to the broker.
Don’t just trade on the basis of what your broker says. Try your strategy on a demo account and if it gives you desired results then only execute it on your live account. Make a trade journal, record your trades and review them after sometime to improve your performance for placing better trades in future.
I agree with you too.
When you take a look at the table of quotations on Forex, you will see two rates in front of every currency pair: rate to buy and rate to sell. The price to buy is always higher than the price to sell.Sell rate is called Bid, and buy rate is called Ask. Buy orders are opened at Ask price and are closed at Bid price.
The forex market depends on supply and demand. Depending on it, buy/sell is done.
The purpose of being a forex trader is to be able to form a strategy and create your buy/sell, so it is better that you start demo trading first and learn what to do after.
If you are serious about trading forex and making profits, it is best to build your own strategy and keep following it. When you are not sure about what you are doing, you are bound to lose.