8/10/2009 12:40:23 AM 54255345 Sell EUR/USD -100,000.00 1.42056
8/10/2009 12:41:05 AM 54255403 Buy EUR/USD 100,000.00 1.42074
8/10/2009 12:41:05 AM Total: -18.00
I accidentally pressed Sell first before buying, bought one lot for a higher price later and still seeing a negative amount. This happened in a practice account.
I’m a total newbie, learning and practicing. So please explain if what I did is valid in the actual world and please explain.
You initially sold the EUR/USD at the price 1.42056. If you sell something, you need the price to go down in order to make a profit. You want to buy it back at a lower price.
If the price goes up, then there will be a loss. Your buy order was for the price 1.42074 which is a higher price. The market moved up so you incurred a loss.
You’re welcome, that’s one thing about currencies, you can take advantage of the market moving down just as easily as moving up. The BabyPips lesson here is a good place to get started with this Trading Forex: How to Make Money in Forex Currency Trading
It also gives an explanation as to what you are buying or selling.