Market Order
Market order is an obligation to buy or sell the currency at the current market price. The execution of this command will result in immediate opening of a trading position. Currency pairs are bought at a price and selling a BID ASK price.
Pending Order
Pending Order
Pending order is the client’s commitment to buy or sell a currency pair at a pre-defined price in the future. This type of orders is used for opening of a trade position provided the future quotes reach the pre-defined level. There are four types of pending orders available in the terminal:
1. Buy Limit —an order to open BUY a position at a lower price than the price at the moment of placing the order. Orders of this type are usually placed in anticipation of that the security price, having fallen to a certain level, will increase.
2. Buy Stop — an order to open BUY a position at a higher price than the price at the moment of placing the order. Orders of this type are usually placed in anticipation of that the security price, having reached a certain level, will keep on increasing.
3. Sell Limit — an order to open SELL a position at a higher price than the price at the moment of placing the order. Orders of this type are usually placed in anticipation of that the security price, having increased to a certain level, will fall.
4. Sell Stop — an order to open SELL a position at a lower price than the price at the moment of placing the order. Orders of this type are usually placed in anticipation of that the security price, having reached a certain level, will keep on falling.
2. Buy Stop — an order to open BUY a position at a higher price than the price at the moment of placing the order. Orders of this type are usually placed in anticipation of that the security price, having reached a certain level, will keep on increasing.
3. Sell Limit — an order to open SELL a position at a higher price than the price at the moment of placing the order. Orders of this type are usually placed in anticipation of that the security price, having increased to a certain level, will fall.
4. Sell Stop — an order to open SELL a position at a lower price than the price at the moment of placing the order. Orders of this type are usually placed in anticipation of that the security price, having reached a certain level, will keep on falling.
Orders of Stop Loss and Take Profit will be activated once the pending order has been executed.
* Stop Loss: This order is used to reduce losses if the currency pair price begins to move in an unprofitable direction. The currency pair will be automatically sold if it falls below a certain pre-determined value.
* Take Profit: This order is used to gain profits if the currency price begins to move in a profitable direction. The currency pair will automatically be sold if it increases and reached a certain pre-determined level.
* Take Profit: This order is used to gain profits if the currency price begins to move in a profitable direction. The currency pair will automatically be sold if it increases and reached a certain pre-determined level.
More Advanced Order Types
Trailing Stop: A Trailing Stop Order is a stop order that has a trigger price that changes with the spot price. As the market rises (for long positions) the stop price rises according to the proportion set by the user, but if the market price falls, the stop price remains unchanged. This type of stop order helps an investor to set a limit on the maximum possible loss without limiting the possible gain on a position. It also reduces the need to constantly monitor the market prices of open positions.
97PA265PYN2M
97PA265PYN2M
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