I am new to forex. Still cannot figure how to go short. My problem is this.
Lets say I have USD in my account. I want to go long on GBPUSD which means I buy GBP and wait for the price to go up and then I close with some profit. So my the amoutn of USD in my account increases.
The next day, I want to go short because GBP is going down and I want to sell GBP with the intention of buying them back at a lower price. This is going short? Right? How can I do this when there is only USD in my account.
Thanks.
Lets say I have USD in my account. I want to go long on GBPUSD which means I buy GBP and wait for the price to go up and then I close with some profit. So my the amoutn of USD in my account increases.
The next day, I want to go short because GBP is going down and I want to sell GBP with the intention of buying them back at a lower price. This is going short? Right? How can I do this when there is only USD in my account.
Thanks.