Forex Order Types
Understand how to make money and manage your risk exposure through Market Orders, Take-Profit Orders and Stop Loss orders.
With a market order, you instruct a broker to execute a trade as soon as possible at the prevailing market price.
With a limit order, you set the maximum purchase price or the minimum sale price at which a trade is to be executed.
You can think of a stop order as the reverse of a limit order. A stop order allows selling below the current market price or buying above the current market price if the stop price is reached or breached.
A trailing stop order is a variation on a stop order: the stop price moves according to parametres you set instead of staying fixed.