Complete the course of our free Forex

Complete the course of our free Forex education course from ForexCookash. Lesson 34 We will explain very important information

They cause confusion in many, especially novices in the field

The question is whether opening the deal in forex means buying

A closing means selling

Answer No

Profit from Forex lies in the expectation of the currency price whether you expect the price of the currency to rise or fall

If you expect the currency to rise, you will open the deal

Buy the currency and then patience to raise the currency according to your expectation and then end the deal by selling and thus achieve profit from the deal

If your expectation of the currency price is that you will fall, you can achieve profits from the deal, but note

You will open the deal by selling

But sell the EUR / USD pair and then wait for the price to drop further as you expect

Then finish the deal and know that you end the deal as a purchase

Here too profit is achieved

So in the first example we bought first and then finished the deal means "sell" and we made a profit from the price rally

In the second example, we sold first and then ended the deal, which means we closed and that means buying and we made a profit means a drop in price

If this is to clarify the concept that the opening of the deal may be a sale or purchase as you expect the currency price situation

Now go to the next lesson of the Forex education course for beginners on the site of Forex Cookie