What are Orders in Forex? And what are its types?
What are Orders in Forex? And what are its types? Orders in Forex are the instructions sent to a broker to open or close a trade. Orders not only help the traders by making their trading easy it also plays a vital role in the risk management of the investment. Orders can help the trade enter the market as well as protect their investments and lower the risk margins. Types of Orders? There are many types of orders in forex and understanding the difference between them can help the trader determine and choose the best that suits them according to their trading goals. Stop Orders: Stop orders are the orders that are triggered the when market hits a predefined rate. There are two types of Stop Orders, Stop Orders to Open a Trade and Stop Orders to close a Trade. Stop Orders to Open a Trade: The Stop orders work on a prediction basis. Suppose if the Current Exchange rate of EURUSD is 1.555 and you thought it will rally further to 1.56, you can put open a trade order and your trade will
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