The bid is the price at which the market will buy the base currency from you, so it is the price your sell order receives when you open a short position. On a two-way quote the bid is always the lower of the two numbers. A long position is closed at the bid, which is why an open buy trade shows a small loss the moment it is filled.
Forex glossary
Bid Price
Related term
Ask Price
The ask, sometimes called the offer, is the price at which the market will sell the base currency to you, so it is the price a buy order pays. It is always the…
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