Working Order
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Market orders: - Market orders are used to buy or sell a currency pair at the current market price. Market orders are typically executed immediately and provide the trader with the most flexibility, but they can also be subject to slippage, particularly in fast-moving markets. -
Limit orders: - Limit orders are used to buy or sell a currency pair at a specified price. For example, a trader may place a limit order to buy a currency pair at a lower price, in order to take advantage of a potential price decrease. Limit orders are used to control the price at which a trade is executed and are typically used by traders who want to enter or exit a trade at a specific price level. -
Stop orders: - Stop orders are used to enter or exit a trade when a specified price level is reached. For example, a trader may place a stop order to sell a currency pair if its price rises above a certain level, in order to limit potential losses. Stop orders are used to manage risk and are typically used in conjunction with limit orders. -
Stop-limit orders:- Stop-limit orders are a combination of stop orders and limit orders, and they are used to enter or exit a trade at a specified price level, or better. For example, a trader may place a stop-limit order to sell a currency pair if its price rises above a certain level, but only if the price reaches a specified limit price.
