How to Place Orders
In This Chapter
• Learning the terms for trading
• Borrowing to trade
• Picking a broker or dealer
• Ordering currency
• Calculating profits and losses
As a forex trader, you’ll be placing orders either to buy or sell currency. The basic process is not difficult, but you do need to understand certain terms unique to trading.
In this chapter, we review the trading terms for placing an order, explain the process of borrowing money to buy money, sort out how to pick your broker or dealer, review the basics of placing an order, and explore the types of orders.
Reviewing Key Trading Terms
If you’ve traded stocks, you’ll find many of the terms for trading forex to be similar, but with a slightly different twist. This ...