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On today’s videos I cover the different types of orders in forex like like market orders , pending orders and trade management orders. Please Like the video if you learned something today 👍 and let me know on the comment section if you have any questions 😊

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⏰ Time Stamp ⏰
00:00 Intro
00:08 Table Of Content
01:44 Types Of Orders
08:12 Limit Orders
15:56 Stop Orders
22:49 Stop Loss Order
25:21 Trailing Stop Order
28:11 Order Types Digital Board Explanation
00:00 Outro
⏰ Time Stamp ⏰

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Types of Orders in the Forex Market

Market Order
Market orders are the most common type of orders used in the Forex market. Simply put, it is just an order to buy something at the current market price. Therefore, if you have ever purchased anything online, the “Buy Now” button kind of performs the functionality of what the market order does in the Forex market.

Therefore, it can be said that the market order is executed on a real time basis when placed. This order automatically searches the best possible price available in the market and books your order at that price.

A market order becomes an open position immediately. As such, profits and losses that accrue on this order have to be realised when the position is closed.

Pending Order
A pending order is an instruction to execute a buy or sell trade i.e. a market order only when certain conditions are fulfilled. Therefore, one can consider it to be a conditional market order. Pending orders are therefore not executed and not considered to be a part of margin calculations till they are actually executed. Pending orders eliminate the need to be continuously monitoring the market to be able to make a trade. Instead it enables traders to set up automatic orders that will execute trades in an instant whenever the specified conditions are met. Orders like pending orders reduce the need of manual intervention in trading.

Profit Booking Order
Profit booking orders are usually orders to square off a long open position i.e. to sell. These orders specify the conditions that need to be met before the square off takes place. For instance, an order to execute a trade if the profit reaches 10% or there is a 12% price rise is a profit booking order. These orders enable traders to book profits in a market where prices change rapidly and manual placing of orders may take a lot of time.

Stop Loss Order
A stop loss order is the reverse of a profit booking order. However, it is used much more widely in the markets than the profit booking order. The order specifies a downward threshold that the investor is willing to bear. If the prices fall beyond this threshold, the investors sell their holdings with the intention of minimising their losses.

Therefore an order to square off a long open position when prices plummet is called a stop loss order. Once again this order acts quickly and prevents losses by acting much faster than manual intervention could.

Trailing Stop Order
A trailing stop order is similar to a stop loss order. This means that this order also sells off an open position when the price hits a given floor. However, in this case the floor moves upwards in case there is a profit. Let’s say you create a trailing stop order at 10% below the market price. The next day the value of your holding has increased by 15%.

In case of a stop loss order, the price floor would remain the same i.e. 10% below the price where you originally started the trade. However, a trailing stop order trails the market price. In this case, the price floor would be 10% below the new market price i.e. after the price has reached a new high level.

NOT FINANCIAL ADVICE DISCLAIMER

The information contained here and the resources available for download through this website is not intended as, and shall not be understood or construed as, financial advice. I am not an attorney, accountant or financial advisor, nor am I holding myself out to be, and the information contained on this Website is not a substitute for financial advice from a professional who is aware of the facts and circumstances of your individual situation.

*None of this is meant to be construed as investment advice, it’s for entertainment purposes only. Links above include affiliate commission or referrals. I’m part of an affiliate network and I receive compensation from partnering websites. The video is accurate as of the posting date but may not be accurate in the future.

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