Order Types Explained
A 1-minute lesson from the MarketPro academy, one of 24 in forex basics.
A market order executes immediately at the best available price. It guarantees execution but not price — in fast markets you may get filled slightly away from the quote you saw, which is called slippage.
Market orders
A market order executes immediately at the best available price. It guarantees execution but not price — in fast markets you may get filled slightly away from the quote you saw, which is called slippage.
Limit orders
A limit order waits for the market to come to you at a better price. A buy limit sits below the current price; a sell limit sits above it. Limits are useful when you expect a pullback into a level before the move you anticipate.
Stop orders
A stop order triggers when price moves through a level in the direction of the order. A buy stop sits above current price and a sell stop below. Traders use them to enter on breakouts or to protect positions.
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Step 4 of 12 on Forex Foundations
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Not investment advice. Past performance is not indicative of future results.