An order to sell at a price higher than the current selling price

kegwig535

Below we will list the most important and most famous types of orders that you must know during the stage of learning Forex: 1. Market orders: Market orders or spot orders are the simplest and most widely used orders in the world of Forex, and they simply buy or sell at the best price available in the market immediately. For example, if you buy one lot of a specific currency, the broker will search for the cheapest lot of that currency at that time and carry out the process immediately.

Pending orders: Unlike market orders, pending orders do not occur immediately, but rather Phone Number Data occur when a specific condition set by you is met, whether selling at a specific price higher than the market or buying at a lower price than the market price or other conditions. The deal will be activated automatically by the broker without the need for you to stay on the screen to monitor prices. There are four types of pending orders, which are: a) Buy Stop order : An order to buy at a price higher than the current market price, in the expectation that the price will remain higher for a period in the future. b) Sell Stop order : An order to sell at a price lower than the current market price, in the expectation that the price will continue to fall after breaking this level. c) Sell Limit Order.



Buy Limit Order : An order to buy at a price lower than the current market price. 3. Stop-loss order: It is an order that is executed on both buy and sell trades when a certain limit of losses is reached to avoid further losses. It is preferable to place it thoughtfully as many markets fall and rise again instantaneously. 4. Take profit order: It is an order that aims to maintain the actual profits. It is executed when the profits reach a certain limit in order to close the deal even if the price continues to rise in order to avoid any potential loss. 5. Trailing stop-loss order: It is the most flexible and efficient version of stop-loss and take-profit orders. It not only closes the deal after one condition is met blindly, but some layers can be added to it to be more effective.