Some market mechanism uncertainties

Hello guys! Hope the markets have been kind to you all (it certainly wasn't for me ).

Anyway,i realised that after being involved in trading for more than a year, i still do not really know how the market works,as in the basics.

I heard from a friend of mine,that when a trader opens a long position, there must be a seller present at that price and time in order for the position to be executed. How true is this?

True, although not necessarily 'at the time' because that will depend on the type of order you use. If you are trading @market then you could say it is a time based order and will require an opposing order to be there at the time, but if you are placing a limit or stop order then it is price based and may not get filled at the time you place it. Whatever the case, there must always be an opposing order to be filled.

The markets are a function of buying and selling. No more , no less. What moves the markets is not people , its money. Your money will not move anything unless you remortgage your home and buy penny shares in a company called icanmake***ineasymoneyquickly.com.
Work out Who has the money, Where the imablance of buyers and sellers exists, What is the probability of this trade moving in your direction,When is the best time to enter and exit.

Sorry Echo ....

but are you blaming the market for being "unkind" or yourself for not interpreting it properly ?

N

Thanks for all the replies.

And i believe i'm the one to be blamed for my losses, which is a good thing.

Echo

It goes like this: When you experience a loss, there is somebody else at the other side of the trade, usually the company with which you're trading (if its a small forex "marketmaker"). Trading is essentially a less than zero-sum game, so when somebody losses, somebody else wins a bit more (due to the commisions, fees, slippage and other factors).