What Is Forex Trading?
There are three price points in Forex Trading.
- Entry Price, or EP, is the price which you buy or sell.
- Stop Loss, or SL, is the price of pre-determined loss.
- Take Profit, or TP, is the price of pre-determined profit.
There are only two types of trades in Forex:
- Long Trade
- Short Trade
What Is Long Trade?
Long Trade = BUY
You buy or enter long trade, when you expect the price will go up.
What Is Short Trade?
Short Trade = SELL
You sell or enter short trade, when you expect the price will go down.