for that four hour period. The skills required to be a successful trader are essentially the same as those needed to become a good poker player. Candlesticks can cover almost any time period from one minute to one month. Another way to think about this, instead of buying EUR/USD, to go short you instead buy USD/EUR. The easiest way to understand the term spread is by thinking of it as a fee your broker charges you to trade. At a first glance, Tradimo is a very neat site and it follows the m structure: there is a section about brokers, a learning center divided into different parts according to skill level; a glossary of terms is also available (its called Tradipedia and the. A stop loss protects your account A stop loss protects you if the trade goes wrong. Opening and closing a position After having bought or short sold a financial instrument, you have opened a position.
However, because the US dollar has become stronger and is denoted with the relationship to the euro as the second currency in the currency pair, the price of the EUR/USD decreases. This can seem a little confusing at first, so we will explain how there is one single price for a pair of currencies. After one minute, the candle will finish forming and then a new candle starts to form. You may hear the term, I went long at this price or "I'm long at the moment". So the exchange rate.4 for the EUR/USD means that.4 dollars are needed to buy 1 euro. On an hourly chart, each candle takes an hour to form and.