Market Order
Market order is an obligation to buy or sell the currency at the current market price. The execution of this command will result in immediate opening of a trading position. Currency pairs are bought at a price and selling a BID ASK price.
Pending Order
Pending order is the client’s commitment to buy or sell a currency pair at a pre-defined price in the future. This type of orders is used for opening of a trade position provided the future quotes reach the pre-defined level. There are four types of pending orders available in the terminal:
1. Buy Limit —an order to open BUY a position at a lower price than the price at the moment of placing the order. Orders of this type are usually placed in anticipation of that the security price, having fallen to a certain level, will increase.
2. Buy Stop — an order to open BUY a position at a higher price than the price at the moment of placing the order. Orders of this type are usually placed in anticipation of that the security price, having reached a certain level, will keep on increasing.
3. Sell Limit — an order to open SELL a position at a higher price than the price at the moment of placing the order. Orders of this type are usually placed in anticipation of that the security price, having increased to a certain level, will fall.
4. Sell Stop — an order to open SELL a position at a lower price than the price at the moment of placing the order. Orders of this type are usually placed in anticipation of that the security price, having reached a certain level, will keep on falling.
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