Can you describe,
where the buy in would take place,
whether is is short or long (it says sell short) Entry: Sell Short 1 lots on a 1.4190 stop
what is : a 1.4190 stop as it says to put a Protective Stop: 1.4220
Trade Type: Sell Short
Pair: EUR/USD
Name of Pair: Euro/US Dollar
Closing Price: 1.4581
Entry: Sell Short 1 lots on a 1.4190 stop (9/13/2009)
Protective Stop: 1.4220
Possible Exit: Exit at the end session
This has confused me even though I under stops and entry points, why the sell short on a 1.4190 stop?
It’s telling you to set up a sell short stop order at 1.4190, with a stoploss at 1.4220.
You’re confusing the sell short stop order with the stoploss. When it says “on a 1.4190 stop” it means the type of pending order to set up.
Your confusion is understandable, since most people don’t use this terminology. If I were giving this signal I would say “place a pending order to sell at 1.4190.”
where does
Closing Price: 1.4581 come into the equation?
and the exit point as close of session?
(this Is pretty clear, exit at or near the close of the day) 5pm NY time?
could you describe those below as this is part of my confusion.
When I buy “long” I am buying for the market to go up, to make profit.
when I buy short, I am buying for the market to go down, to make profit.
on Meta trader 4 I close a postion to take profit or set a take profit level.
Which one below is the Take profit order? Would it be the sell stop?
and after reading your more info link, I think I see, but still a little fuzzy.
describe those below please
Buy Limit: Buying long position, market goes up you take profit
Sell Limit: Buying short position, market goes down you take profit
Buy Stop: use to take profit close short position
Sell Stop: use to take profit close long position
Did I figure it out? Are the above statement correct?
