6 types of orders

Updated: Jun 9

To trade in the forex market you must conclude currency buy and sell transactions. Below I present to you the types of orders and their operation.


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On the Forex market, there are market and pending orders. Market orders include orders to buy and sell currency. This is the simplest order type, you click the button and open market position.

You can add Stop Loss and Take Profit orders after placing an order using the edit function.

The second type is pending orders:

• Buy Stop

• Sell Stop

• Buy Limit

• Sell Limit

As the name suggests, you can set this order at a given level and "wait" for activation by price

We include pending orders:

Buy limit, pending order, which you set under the current price




Sell limit, a pending order that you set above the current price


You can apply these orders when you apply strategies based on price adjustments

Tip: Limit orders are less sensitive to price slippage

Buy stop, pending order, which you set above the current price



Sell stop, pending order, which you set below the current price


You can apply stop orders when your goal is to use trend traffic after breaking a given price level, e.g. after consolidation or an important support and resistance point.


Tip: the risk of price slippage is greater than for limit orders, due to the impetus of breaking.


Remember that pending orders are also Take Profit and Stop Loss

Take profit is an order that you use to close transactions with a profit.

Stop-loss is a reverse order to Take Profit, its task is to limit losses on the account when the market changes direction.


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