A. Whenever you see the messages saying.
I am going to go long (buy) or go short (sell) a market, this is the entry price which Trader X will be getting into his trade.
You see when we trade CFDs, there are two ways we can profit.
Either we can buy (go long) a market at a specific entry price with the expectation that the price will rise where it will hit a higher take profit (exit price) where we can sell the CFDs and bank a profit.
Or we can sell (go short) a market at a specific entry price with the idea, the market price will drop where it will hit a lower take profit (exit price) where we can buy back the CFDs and bank a profit.
Let’s use the last two trade examples, which were sent out…
Example #1: Long (buy)
I will be going long (buy) the USD/ZAR
Symbol: USD/ZAR Mini
Stop loss: 14.10
Take profit: 15.60
Example #2: Short (sell)
I will be going short (sell) Hugo Boss
Symbol: HUGO BOSS CFD
Stop loss: 35.50
Take profit: 30.00
In example #1, the key to the email is “going long”.
Once we see these words, we know that we are going to BUY and set our entry price at R14.50, with the idea that the market will move up to the take profit price at R15.60 which we’ll sell (exit) and close our trade for a profit…
In example #2, the key words are “going short”.
Whenever we see these words, we know we are going to SELL and set our entry price at $34.00, with the idea that the market price will drop to the take profit price at R30.00, which we’ll buy back (exit) and close our trade for a profit.
NOTE: If you’re using ProTrader platform you’ll choose the ‘Limit Order’ market type. This way you will be able to choose (limit) the price you wish to enter exactly at.
In Jan and Feb 2021 Pickpocket Traders had 4 out of 4 winning trades!
And they are closing in on their fifth as I write.
What A Pickpocket Trader has to share:
“The best trades that I took made me about R8,000 from Brent crude and USD/ZAR. I also made money on Merck, US 500 and DE30. I am none the less keen to get in on my next lot of trades.”
Join Pickpocket Trader to enjoy the profits Ari enjoys on a monthly basis by clicking here.
As Bitcoin Breaks Records, Target These Little- Coins Instead
Bitcoin has surged past $53,000 - the second all-time high in a matter of days.
, and you'll see where it could go from here.)
Understandably, it's been dominating headlines.
But listen - I'm not here to waste your time with the obvious story.
What isn't making headlines is your key to an even bigger profit opportunity.
Q. “When you send out a trade idea, does your take profit figure always represent the selling price or is it something else?“
A. Whenever you see the take profit price in our email trade ideas, I want you to think of one thing…
It’s the closing price.
If we go long (buy) a market’s CFDs at an entry price, then yes the take profit price represents the selling price. Because in order to square up (close our position), if we buy CFDs we need to close it by selling the no. of CFDs.
However, with trading you can also sell a market’s CFDs, known as shorting.
We do this by borrowing CFDs from the bank or market maker and selling it at a price.
We then wait for the market price to drop, where we can buy back the CFDs at a lower price and pocket the difference.
In this case a short (sell) trade idea’s take profit figure always represents the buying back of a certain market.
When you go long (buy) a market’s CFDs the take profit figure represents the selling price which will close out the trade.
When you go short (sell) a market’s CFDs the take profit figure represents the buying ‘back’ price which will close out the trade.
Analyst, Red Hot Storm Trader