First, you should determine whether you want to buy or sell.
If you want to buy (which actually means buy the base
currency and sell the quote currency), you want the base currency to rise in
value and then you would sell it back at a higher price. In trader's talk, this
is called "going long" or taking a "long position." Just
remember: long = buy.
If you want to sell (which actually means sell the base
currency and buy the quote currency), you want the base currency to fall in
value and then you would buy it back at a lower price. This is called
"going short" or taking a "short position". Just remember:
short = sell.
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