New to Forex
Hi ladies and gentlemen.
My name is Luke and I'm pretty new to Forex trading. I'm mainly a Binary Options trader but I want to learn Forex. I'm currently using MT4/MT5 and I've found something that confused me. Which one of these lines do we base our trades on? The blue or the red? If this question has been asked before, I'm sorry for asking it again and would appreciate it if somebody could show me where to find the answer.
Thank you in advance.
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lukemomodujr: My name is Luke and I'm pretty new to Forex trading. I'm mainly a Binary Options trader but I want to learn Forex. I'm currently using MT4/MT5 and I've found something that confused me. Which one of these lines do we base our trades on? The blue or the red? If this question has been asked before, I'm sorry for asking it again and would appreciate it if somebody could show me where to find the answer.
Both the Ask Price (Red) and the Bid Price (Blue) are used.
Buy (Long/Call) Orders open at the Ask price and close at the Bid Price, while Sell (Short/Put) Orders open at the Bid Price and close at the Ask price.
EDIT: Please note that OHLC Bars and Indicators you see are based on the Bid Price.
Fernando Carreiro:
Thank you for the helpful advice, Fernando!!!
Both the Ask Price (Red) and the Bid Price (Blue) are used.
Buy (Long/Call) Orders open at the Ask price and close at the Bid Price, while Sell (Short/Put) Orders open at the Bid Price and close at the Ask price.
EDIT: Please note that OHLC Bars and Indicators you see are based on the Bid Price.
