When you are in front of a real time feed of markets quotes you will see two prices for currency pair. There are two prices you see on your trading screen. Bid price is the price at which you can sell your currency pair. If the currency pair is liquid it means you can sell your currency pair without impacting the price. Otherwise big traders or trading algorithms can move prices.
Offer price is the price at which you can buy currency pair. Spread is the difference between the bid price and offer price. If gap is bigger it means that when you will want to sell or cover short position you profit will be lower for that gap, or your loss will be even bigger because of that gap. So be carefull which currencies you trade, that there is enough liqudity and small gaps.
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