3-5:CHIFLEY: Order Type for Forex Trading.docx
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1、CHIFLEY: Order Type for Forex TradingIf you are a newcomer to Forex, you may know how to start a simple buy or sell transaction at your preferred broker, but you may not realize that you have a variety of different ways to enter your trade ( That is, the order type).Market orderMarket orders are per
2、haps the most common way to enter. Market orders are used to enter the market at the best available price. In other words, if you trade EUR/USD at a selling price of 1.3280 and you set a market order, you will buy the pair at the best price of 1.3280.The only time you should be cautious is when mark
3、et orders are in a non-current market. For example, suppose you create a market order that buys EUR/USD. If the market is very volatile, EUR/USD may gap at the next beating point and your best available price may be higher than your expected price.Limit orderLimit orders are used when you want to bu
4、y at a price lower than the current price or at a price higher than the current price.Therefore, if the EUR/USD current transaction price is 1.3280 and you want to buy it at 1.3270, you can create a limit order below the market price. Usually, when you want to enter at a better price, you will use a
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