There are two Forex positions to remember. Long = buy If you want to buy a currency (meaning that you want to BUY the base currency and SELL the quote currency) at one price and sell it later on at a higher price, then you are in trade's talk taking a "long position" or "going long".
What can you order in FOREX market? What is your set menu? Remember that the word order refers to the way to enter or exit a particular trade. There is a large variety of orders and here we cover most of them.
Before any trader embarks on a trade, there are three questions that he must bear in mind.
1. What is the extent of the market movement and when is the correct time for profit taking? A trader can utilize “Limit Orders” to close his market position when he reaches his profit target.
The main objective behind technical analysis is to identify trends when they get initialized, develop and decline. The trader to capitalizes on the trend until it switches direction. The reason why technical analysis plays such an important part in the Forex market is because the Forex market is based on trends. Trend is the nature of the forex market