Buying/Selling - B/S
If you want to open a position (i.e.: place an order to sell – to make a profit if the exchange rate falls) you have to choose the amount (i.e.: 100.000 EURUSD) from the drop down menu on the platform and then click the mouse on the sell currency button: SELL (if you want to place an order to buy, you should act in reverse).
This will open a position in the market and you will receive an immediate notification of it on your trading station.
To close an open position, you have to do the opposite of the initial operation – in our case buy the 100.000 EURUSD back.
Different order types also exist to open or close a position under a certain condition.
How does the B/S system work?
As with any market, for each currency pair, there are 2 prices. The difference between them is called the spread.
The spread is measured in points or pips – lowest decimal figure in a currency rate.
For a EURUSD a pip equals 0.0001 (or 10 dollars on 100.000), for EURJPY a pip equals 0.01 (or 1000 yen on 100.000). More information on P/L calculation on the following page: profit and loss.
Read more In Mega fm
