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Placing Forex Trades

Discussion in 'General Forex Talk' started by BamaGuy, Jul 14, 2009.

  1. BamaGuy

    BamaGuy Recruit

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    I have been on a practice acct for the second day now and am frustrated regarding filling out an order ticket from the mechanical point of view.

    I will determine a price that is either above or below the market price by about 5 pips. By the time, I hit the buy or sell button to fill out a ticket, in most cases the price I want has already been passed by the market price and I have to raise or lower my price to get it filled.

    Am I too slow at getting the price on the ticket or do I need to raise or lower my price to be ahead of the market? Of course an arrow appears when my order is filled, but should a horizonal line for my stop loss and target also appear across when these are set? The bottom line is how am I supposed to know that the trade is completed because the price hit my target or stop loss without just trying to see it on the chart?
    Tom
     
  2. clem699

    clem699 Sergeant

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    Price Execution Order

    Dear Tom,though ur explanation was not that clear but if i am right,i presume u use present market price(instant execution)to fill ur trades.If i am correct then what u have been experiencing do occur especially during volatile periods(news release)U will be told to re-quote ur price.

    I think it will do u alot of good if u practice for about a month or two before thinking of real account.By then i believe u would have enough knowledge about price entries and when it is appropriate to use each option.
     
  3. BamaGuy

    BamaGuy Recruit

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    Clem, your reply

    Thanks for your reply as that must have been the case, as the market was very volitile. And, don't worry as I am going to be as educated as possible prior to "jumping in"!

    Tom
     

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