How do I distinguish between open and close signal?

C2
1

I received an email for a strategy that I was subscribed to that looked like this:

ID Issued Action Quant Symbol Good Til Model Account Outcome
********* 9/22/15 4:10 ET Buy to cover short position 3,750,000 AUD/JPY market order Good Til Cancel traded at 85.625 9/22/15 4:10 ET

So I bought AUD/JPY on a practice account as I thought it was an open signal. However, after checking today, it was actually a close signal, which was confirmed by the strategy owners and the page:

Closed Trades:
Opened ET B/S # Symbol Price Closed Price DD P/L
9/9/15 23:51 SELL 375 AUD/JPY 85.756 9/22 4:10 85.621 4.45% $3,838

I’ve just started trading, so I’m still not sure how to tell if that signal was a close signal.

2

Michael,

SELL=SHORT

So when the opening position is a SELL then to close the position is a BUY TO COVER. Message me and I can explain the terminology if that is where you are confused.

3

Thank you very much, I didn’t want to bother you, but it looks like I missed up reading up on some basics.
I should probably read in-depth for a few more weeks instead of jumping in and saving myself some embarrassment!