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What are we trading?

What Are We Trading?

When we place a trade in the forex market, we are buying one currency and selling the other. This is why forex is traded in currency “pairs.” As a visual example, we can reference the image below.

If we buy a currency pair, like the EUR/USD, we are buying euros and selling dollars. We place this trade when we believe the EUR/USD exchange rate will rise and allow us to sell back our euros for a larger amount of dollars at some point in the future.

But in the forex market, we can trade the other direction as well. So we could sell the EUR/USD, effectively selling euros and buying dollars. With that trade, we would want the EUR/USD exchange rate to fall so we can buy back the euros for less dollars than we originally sold them for.

So not only do we have a goal of buying low and later selling high, we have the option to sell high first, and then buy low later.

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