Going long or short

The main idea in forex is to buy a currency at a low price and sell it at a higher price.

If you think the price of a currency rate will go up, you click buy (this is called going long), but if you think the rate will go down, you click sell (called going short).

The process of going long is very simple. However, going short, in reality, is a bit more complex. Fortunately, the complexity is taken care of by automated trading systems. The shorting process happens like this: 

• The broker lends you the currency that you want to sell. 

• When the price falls, you pay the broker back a lower price, thus making a profit on the difference.

All you need to do is push a button and shorting happens automatically.

What is being traded in forex?

To be continued….stay stunned

#HotTrends #CryptoEducation💡🚀 #forextrade #Forex #Write2Erarn