Market Orders

Forex Order Types

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 order, stop or limit, initiating an open position and executed when a specific price level is reached and/or broken. The execution is handled by the dealing desk and the order is in effect until canceled by the client.

Limit Entry Orders: These are orders that initiate an open position to sell every time the market rises, or buy every time 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 present market.
2. Sell Entry Limit: An order to sell at a price above the current exchange.

Entry Stop Orders: All Entry Limit Orders work to initiate an open position to sell whenever the market falls, or buy whenever the market rises. The client believes that prices will continue to move in the same direction whenever the previous momentum after hitting the order level.
1. Buy Entry Stop: An order to BUY at a price ABOVE the present trade value.
2. Sell Entry Stop: An order to sell at a price BELOW the existing exchange.

Limit Orders: A limit order is an order tied to a specific position for the purpose of locking in the gains from that position; while they are placed on a buy position it is an order to sell and limit orders placed on a sell position is an order to buy. All limit orders remain valid until the position is liquidated or canceled by the client.

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

Stop-Loss Orders: An order linked to a specific market position to close that market position and prevent additional losses. A stop-loss order will be executed when the displayed price on GTS touches the order price. The executed price will be the order price or in the case of a fast market the order will be executed at the next displayed price and then the stop-loss order remains effective until the market position is liquidated or canceled by the client.

Every stop-loss orders will stay in effect until the debt position is either settled or canceled by the client. While a stop-loss order on a sell position is an order to buy that position.
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