Somethings wrong. Help please

Can somebody help me please, so i have NZDUSD open and since I bought it the price is going up but on the summary its going negative.

Uh, if that arrow is an indicator; you did not buy but sold. Double check your position.

Yep, you sold it, and didn’t buy it. Lesson one, learn how to buy and sell :wink:

Don’t you have to buy it first in order to sell it? I think it was from my previous orders, where I put the limit, but closed it myself, and it didn’t disappear, so now I had to wait until the price dropped and then I could sell it lol, its really weird and confused me.

Yep thats a short (sell). Dont feel bad I have done that many times

No. You should probably do the Babypips school to build on your basic skill set.

Buying a pair also means to go long. It means you’re counting on the price to move up.

Selling a pair also means to go short. It means you’re counting on the price to move down.

Depending on the broker and it’s set up, they should have two separate Buy and Sell buttons.

And I have no idea what was going on with your previous trade unless you weren’t closing it correctly. But if you have an open Sell position, you don’t Buy to close it. You would normally click on the trade and choose a “Close Trade” option.

I think you have confused “covering” shorts in other markets in which case, yes, you technically “buy” to close the trade. Forex is a different animal. You are trading pairs of currency. If you think one will go up in relation to the other (the first one listed) you “buy” or “go long.” If you think that currency (the first one listed) will fall in value in relation to the other you would “sell” or “go short.” What you are actually doing is, in effect, “buying” the second currency listed. Therefore, you do not have to cover or buy back a short position as you would on many stock trading platforms.

It is a bit confusing, I know. To simplify:

In Forex you buy or sell and then “close trade.” No buying back or covering required.

I’ve made the same mistake – closing in profit! So much for my keen analysis:56:

that reminded me of “million dollar trader” documentary where some guys does the same for stocks, which is worse …If you are new to trading, then that’s definitely gonna happen soon or later…Happened to me a few times in my first days…

As others mentioned, you sold it. I suggest that you learn the basics first before you continue to trade. When you click the order button it also clearly states bur or sell. Just learn from your mistake, stop trading and learn the basics before you get back to trading.