• Types of Forex orders

Types of Forex Orders

There are several types of orders in Forex trading, all of which will help you control how you enter and exit the market.

Market Order: Market orders are executed live at the current market price. They are used to open or close a trade at the market price.

Limit Orders: Limit orders are orders to exit the market at a profit: above the market price if you’re going long, below the market price if you’re going short.

Stop-Loss Order: Stop-Loss orders close your trade if it reaches a pre-determined level of loss. Stop-Loss orders are crucial to your risk management plan.