Forex Orders

A market order is an order to buy or sell which is to be filled rapidly at the current exchange rate quotation under normal market conditions. A market order is what you use when you want to execute an order immediately at the current market price, it is displayed as a bid or ask price. The information in this article is a brief introduction to understanding today's Forex Market Order.

Entry Orders: An entry order is an order that is executed when a particular price level is reached and/or broken. The execution of these orders are under the dealing desk supervisor and remain in effect until the client cancels the order.

Limit Entry Orders: An order initiating an open position to sell every time the market rises, or buy every time the market falls. The market is expected to reverse the direction at the level of the order.
1. Buy Entry Limit: An order to buy at a price below the present exchange value.
2. Sell Entry Limit: An order to sell at a price above the present trade value.

Entry Stop Orders: An order initiating an open position to sell each time the market falls, or buy each time the market rises. The client believes that prices will continue to move in the same direction each time the previous momentum after hitting the order level.
1. Buy Entry Stop: An order to buy at a price ABOVE the existing market value.
2. Sell Entry Stop: An order to sell at a price BELOW the present exchange.

Limit Orders: A limit order is an order tied to a specific position for the purpose of locking in the gains from that position. A limit order remains open until the position is liquidated or canceled by the client.

OCO (One Cancels the Other): A stop-loss order and a limit order linked to a specific exchange position. One order, the stop, is to prevent additional loss on the exchange position, and one order, the limit, is to take profit on the exchange position. When either order is executed, closing the exchange position, the other is automatic each canceled.

Stop-Loss Orders: A stop-loss is an entry order linked to a specific trade position for the purpose of stopping the trade position from accruing additional losses and a stop-loss order placed on a buy trade position is a stop entry order to sell linked to that trade position. A stop-loss order remains in effect until the trade position is liquidated or the client cancels the stop-loss order. While a stop-loss order on a sell trade position is an order to buy that trade position; keep in mind that a stop-loss orders remain in effect until the trade position is liquidated or canceled by the client.

Each stop-loss orders remain effective until the position is paid off or canceled by the client. While a stop-loss order on a sell position is an order to buy that position.