trendisyourfriend
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I am testing Metatrader 4 and would like to confirm with you if my interpretation is correct...
A currency quote is listed in this format bid/ask.
If i am short on a given currency pair and have set my take profit let's say to 1.5000 (i opened my position at 1.5050) does it mean my take profit will trigger when the ask price will reach 1.5000 ? In other words, if i entered at the bid price then i should get out when the ask price reach my take profit, right ?
The inverse should also be true, if i am long (i.e., i bought at the ask price) i should be out when the bid price reaches my take profit .
A currency quote is listed in this format bid/ask.
If i am short on a given currency pair and have set my take profit let's say to 1.5000 (i opened my position at 1.5050) does it mean my take profit will trigger when the ask price will reach 1.5000 ? In other words, if i entered at the bid price then i should get out when the ask price reach my take profit, right ?
The inverse should also be true, if i am long (i.e., i bought at the ask price) i should be out when the bid price reaches my take profit .
