In my practice Account I bought the USD/EUR and then sold it about 5 minutes.
So if I buy a trade and then sell it is my buy trade still active? Or I mean How do I close TOTALLY out of a trade? Or how do I get into the action and totally OUT of the action altogether?
If I buy then sell am I totally closed out of the market?
Also, can I SELL a trade before I ever bought it? And if I sell a trade and then buy it later does that mean I am out of the market?
It sounds like you are very new to trading, and I think if you read through this section first, it should answer many of your questions! If youāre still confused please ask
What demo account are you using? Some brokers like Oanda give you an option to close your trade simply by offering a ācloseā button. Others you have to do the opposite of your initial trade. If you bought, you have to sell. If you sold, you have to buy.
You can āsell a tradeā, before buying, its called going short.
If you buy and sell later you have done a round trip and you are now totally out of the market - it is called going [U]long[/U]
If you sell (yes, you can do this!) then buy later you have done a round trip and you are now totally out of the market - it is called going [U]short[/U]
[B]Beware[/B], however, if you have set a stop loss. This stop loss will still be active and if you do nothing about it, your computer will automatically buy or sell if the price reaches that point.:eek:
So check your chart(s) to see the stop loss if you have one (and it is unwise to go without one) and then click the mouse to cancel the stop loss order.
Cuzy16, thatās super cool that you are learning this business at your age. Rock on!
One tip for you on pivots: Make sure you are using 5pm U.S. Eastern Time as the beginning of a new trading day, and 4:59 as the closing period of the day. In the trading world there seems to be some confusion as to when to calculate pivots, and New York ācloseā is the period you want. Some mistakenly use midnight (including what is set forth by my charting software company lol), and that isnāt the correct calculation. Also remember to adjust for daylight savings time as appropriate.
I think he ment hes in the baby pips 6th gradeā¦ not real 6th grade. But if you are really in 6th grade, much props to ya!!
To close a trade on oanda, go to your trades, click the trade you want to close. Itāll bring up the ticket, at the top pick close, then click submit at the bottom.
I was a little off, its not an actual close button but an option then you click submit.
yes liquidate it for instance to go out from what have you sell @ buy.most of the young and interested trader will have no patience to go live trading,like me .never do it unless you want to donate you money to the charity(broker)ā¦
.never do it unless you want to donate you money to the charity(broker)ā¦