On Forex and their brokers

Okay after doing some studying there is one thing that I'm mainly uncertain about, I've signed up to an FXCM micro trading account. Before you panic and scream at me no I haven't deposited any money or tried to buy anything yet :P

When you buy and sell is this in the traditional sense? Because I think my head exploded when the video tutorial was buying a currency and then closing the trade and making a profit.

Or is it that buy and sell mean completely different things in trading and in fact close is what selling is?
 
what do you mean "in the traditional sense"? You buy...you sell (short)

Look at it this way:

you buy you make money if it goes up..you lose money if it goes down

You sell (short it) you make money when it goes down you lose money when it goes up.

BUY : UP = GOOD: Down = BAD

SELL: DOWN = GOOD, UP = BAD

OK?

bye bye....not sell sell.
 
Ahhh okay thanks! The trade speak just makes it harder to understand when your first looking at it.

Oh and in the traditional sense I meant when you buy something from a shop and the shop sells it to you. That's the only meaning I understood about it so far.
 
reasearch and do some ground work first then!

"what does buy and sell mean?" LOL

Have you ever traded anything before?
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No kidding! lol that's why I'm asking.
 
I haven't done any trading that you guys do whatsoever which is why I'm here learning. I think the only thing close to trading i've done is what normal people do when buying stuff from a store and going for the lowest prices or as I mentioned once or twice in a game that had a reasonably realistic economy.
 
Quote from Lethn:

I haven't done any trading that you guys do whatsoever which is why I'm here learning. I think the only thing close to trading is what normal people do when buying stuff from a store and going for the lowest prices or as I mentioned once or twice in a game that had a reasonably realistic economy.
More...

400 odd posts and never traded, hope you been hanging in chit chat.

When you find a FX broker, fix your leverage 1:1 and learn/grow...
 
I'm probably going with FXCM account creation seems to be relatively painless and they only charge you on the spread.

And honestly the buy and sell thing was the only thing that was confusing the hell out of me :p I think I'm beginning to get the rest of it now that I understand the platform.
 
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