Thursday, August 21, 2014

Types of Orders

Market Order
It is an order to buy or sell a currency pair at the price that the pair is being quoted at the moment.

Stop Loss Order
    It is used to close a position that has been opened at a specific level once the market gets to that level. It is used to minimized or control your losses or to protect profits already accumulated.

Limit Order / Take Profit

    It is used to close a position once it has reached a specific level of profits. Limit orders are also used to open a new position automatically once the market has reached a specific level.

Buy Limit.
An order to program a buy below the current price.

Buy Stop.
An order to program a buy above the current price.

Sell Limit.
An order to program a sell above the current price.

Sell Stop.

An order to program a sell below the current price.


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