Forex Account Orders

Placing Market Orders

Basically the Forex Market Order is an order to buy or sell which is executed immediately at the current currency price. Orders are displayed as either 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 supervisor of the dealing desk and remain in effect until the client cancels the order.

Limit Entry Orders: All Entry Limit Orders work to initiate an open position to sell when the market rises, or buy when the market falls. The client believes the market will reverse the direction at the level of the order.
1. Buy Entry Limit: An order to buy at a price below the current exchange.
2. Sell Entry Limit: An order to sell at a price above the current trade value.

Entry Stop Orders: This type of order initiates an open position to sell every time the market falls, or buy every time the market rises. The client believes that prices will continue to move in the same direction every time the previous momentum after hitting the order level.
1. Buy Entry Stop: An order to buy at a price ABOVE the current trade value.
2. Sell Entry Stop: An order to SELL at a price BELOW the current exchange value.

Limit Orders: A limit order placed on a Buy position is a limit entry order to SELL that position; this is for the purpose of locking in the gains on an existing position. A stop-limit order remains effective until the position is liquidated or the client cancels the stop-limit order.

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

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

While a stop-loss order on a sell position is an order to buy that position. Every stop-loss orders remain in effect until the position is liquidated or canceled by the client.
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