Nov
5
How Many Forex Order Types Are There?
Filed Under Forex
While doing Forex trading that deals with currency exchanges in pairs, it is better to know about the different Forex order types. In general, there are four order types.
Market Order is where you need to constantly monitor the market proceedings of a currency vis-à-vis other. You have to sell the stock above market price and buy it below it.
Limit Order is the ceiling limit. You put the high point where you need your stocks to be sold to get you great profits. This however requires worthy reading of Forex.
Stop order is giving the stocks the lower limit. This means that your shares should be automatically sold once it reaches the lower limit. This may depend on your economic sturdiness.
One cancels the other order (OCO) is when Limit Order and Stop Order are put. Naturally, while performing one order, the other stands cancelled. This order needs least surveillance of the market.
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