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AUDUSD LOSS

17th July 2018 contacttf

The foreign exchange market (Forex, FX, or currency market) is a global decentralized or Over The Counter (OTC) market for the trading of currencies. This includes all aspects of buying, selling and exchanging currencies at current or determined prices.

I took the trade long, but the 15min chart was indicating short.

This was not the best or ideal setup.

My stop was placed tight, so I am not surprised that the trade got stopped out.

Mental note taken.

In the forex market, think of money as a commodity, you are buying a currency hoping that its value will increase, and if you are selling you are betting that it will decrease. ... Instead the forex market is an interbank market, which means it's all connected together in a network of banks and institutions.