What Are Forex Orders?
The Forex market offers a relatively simple investment environment compared to other financial markets. The ease and depth of day-to-day trading makes it possible to earn more money from simple “buy-sell” orders.
How to Order in Forex?
Forex orders are simply transmitted to the market on online trading platforms. They are not forwarded to the brokerage before the stock market orders, then to the market. The Forex trader orders and processes the desired directly from the trading platform.
Forex orders appear fairly straightforward when you look at your trading platform. When you select a parity of “Buy and Sell”, you can make a direct ordering process. Of course, these orders have various names and specialties. For example, you can give orders to limit your losses and to ensure that your transaction is stopped when you are not at the computer.
Here are the orders given on the forex market
Market Order: The order you place on the market at the time you want to trade is called the market order. When you choose any parity on the platform, the “buy and sell” orders you see directly are the market orders.
Waiting Orders: The type of orders used to trade at a different price than the active prices in the market. There are 6 kinds of pending orders.
Buy Limit: The type of order given for the purchase if the price is lower than the instant market price. When these forex orders are given; the price will drop to the desired level.
Sell Limit: The sale will be realized if the price reaches a higher level than the instant market price. When the sales limit is ordered, the order will be realized after the price has risen to a desired level, and the prices will be reduced again and the profit will be obtained.