I am playing around with stop losses and taking profits, and I am utterly confused with MT4. I was watching NZDJPY, expecting it to go down, so I SOLD the pair. First of all, is that correct.
Second, I set a stop loss above my price, and a take profit belwo my price, because I am expecting it to go down. Is that correct? I doesn’t seem correct because everytime I did it, the price betwen those two points … within seconds of modifying the order it would close it with a loss.
What am I doing wrong?