moonchild
VIP Contributor
There are different types of orders in Forex Trading, most of the times when we plot our chart and draw our lines, we just don't often enter the trade, we wait for the price to reach our level before we execute the trade.
And sometimes we get on the chart and just execute a trade immediately, this is where order type comes in, order types defines how we place our orders and this is what we are going to talk about in this article.
Sell Limit: this is a sell limit, and it means you can place your sell order on a chart and then you wait for the price to reach the level, and when the price reach the level it will be activated automatically and it is advisable to measure your stop loss to save your account.
Buy Limit: A buy limit is more like a sell limit the only difference between it wih sell limit is this is a buy limit but apart from that they share the same features.
Among other types of orders in Forex is Buy stop and Sell Stop.
Most of the times it's advisable to use buystop or sellstop because one hardly catch moves on real time.
And sometimes we get on the chart and just execute a trade immediately, this is where order type comes in, order types defines how we place our orders and this is what we are going to talk about in this article.
Sell Limit: this is a sell limit, and it means you can place your sell order on a chart and then you wait for the price to reach the level, and when the price reach the level it will be activated automatically and it is advisable to measure your stop loss to save your account.
Buy Limit: A buy limit is more like a sell limit the only difference between it wih sell limit is this is a buy limit but apart from that they share the same features.
Among other types of orders in Forex is Buy stop and Sell Stop.
Most of the times it's advisable to use buystop or sellstop because one hardly catch moves on real time.
