Various pending orders in forex
In forex trading, we can not be separated from the name buy stop, sell stop, buy limit, sell limit and so on.
Then what is the meaning of all these terms mean? Following I will explain one by one:
1.BUY STOP is a pending order that we put on the market it is running.example market that is running currently at the price of 1.33500, then if we want to put a pending order Buy Stop it should be on top of the price. buy stop at 1.33600 haga if we want 100 pips, and so on.
2.SELL STOP is the opposite of buy stop that we put underneath the market that are running.Example if we want to put a stop of 100 pips sell, while the prices are running at 1.33600 sell stop then we should be in the price of 1.33500.
3.BUY LIMIT is pending order that we put under the market which are running..Example we want to put a limit buy 100 pips from the current price, if the price is now 1.33600 runniing then buy limit lies in the price of 1.33500.
4.SELL LIMIT is the opposite of a buy limit, which is above the market pending orders that are running.Example we want want to put a sell limit 100 pips from the current price, while the current price is now 1.33600 then sell limit price must be located at 1.33700.
Similarly, an explanation of the various orders pending, may be useful for traders, especially new to forex.
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