Patience Required

[Joeglum]

This will lay bare my complete lack of understanding of Forex and possibly lack of intellect.Smart comments are expected.

Example of Euro/Dollar quoted price from an online broker.

Bid 1.28539 Ask 1.28559

My basic question is this. If I buy 10,000 I end up with 10,000 x 1.28559 which is 12,855 USD?

As I understand it (or not) for every buy in the Forex there is a sell and vice versa?

So what happens if I want to sell the same size lot?

If I could just get over this basic hurdle Im sure I could make millions from the comfort of my own home working 3 hours a day

 

[Mr.Emilio]

It is vary simple: If you gain 100 pips, you double you lot size. Mean's you gain 100%!

Lot size is up to you!

More information you can find here: http://www.trade2win.com/boards/first-steps/80692-best-threads-first-steps-forum.html

 

[Rhody Trader]

My basic question is this. If I buy 10,000 I end up with 10,000 x 1.28559 which is 12,855 USD?

You'll be long 10,000 EUR and short 12,855 USD.

As I understand it (or not) for every buy in the Forex there is a sell and vice versa?

Correct. Someone will be on the other side of the trade - short EUR, long USD.

So what happens if I want to sell the same size lot?

You go short EUR and long USD.

That help?