Orders are essential in a Forex market, and any investor needs to understand how they work so that they can know the trading technique to employ.
Orders help to maximize the profits as well as protect an investor from the risk of making a loss.
A limit order gives a directive to place a trade at a given price or a much better price.
A sell limit order states a specific price or higher than that while a limit order to buy states a certain given price or lower.
Limit orders give you the chance to be flexible in stating the price you want to trade within the Forex market.
However, a limit order does not entitle you to enter or leave your position in a Forex market since if no one meets the price that you state, then what you ordered will not be fulfilled.
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