BUYING AND SELLING TIPS IN FOREX

Order Basics :* Sellers are asking for a high price.* Buyers are Bidding at a lower price.* Trading is an auction.* Slippage occurs with most Market Orders.* The diffrence between the ASK and the BID price is the spread.A trader must understand what each order is, what it and what part it plays in capturing profit.A FOREX Trader must use three types of orders: a Market Order, a Limit Order, and a Stop Order.The two primary orders used for entering and exciting the market are a Limit Orders, and a Stop Orders. Once an order is placed your order to enter the market, there are two critical procedures: One-Cancels-the-Other( OCO ) and Cancel-and-Replace. Properly exectuing orders and understanding these procedures are a vital step to profitables trading.IMP : all good carpenters carry a toolbox. The sharper the tools and the more skilled he is at using them, the more effective he is. The sharper you become as a trader the more effcient and lucrative you will be.What orders do : A clear understanding of what each order does is essential before exectuing orders