Thursday, August 20, 2009

Forex Order Types (Forex Basics)

There are some basic order types that all brokers provide such as:

Market Order
A market order is an order to buy or sell at the current market price (which means you make instantly execute a buy order at that exact price).

Limit Order
A limit order is an order to buy or sell at a certain price. The order essentially contains two variables, price and duration.

Stop-loss Order
A stop-loss order is a limit order linked to an open trade for the purpose of preventing additional losses if price goes against you. A stop-loss order remains in effect until the position is liquidated or you cancel the stop-loss order.


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