Forex 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 supervisor of the dealing desk and the order is in effect until canceled by the client.

Limited Entry Orders: All Entry Limit Orders work to initiate an open position to sell as the market rises, or buy as the market falls. The market is expected to change in directions at the level of the order.
1. Buy Entry Limit: An order to buy at a price below the present exchange value.
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 initiating an open position to sell each time the market falls, or buy each time the market rises. The client placing a stop entry order believes that when the market's momentum breaks through a specified level, the rate will continue in that direction.
1. Buy Entry Stop: An order to BUY at a price above the current exchange value.
2. Sell Entry Stop: An order to SELL at a price below the existing trade 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 exchange position. One order, the stop, is to prevent additional loss on the exchange position, and one order, the limit, is to take profit on the exchange position. When either order is executed, closing the exchange position, the other is automatic all canceled.

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

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