Orders in Forex trading:

There are many types of orders available in online forex trading. One of the most popular is the Pending Order. What is meant by pending order?

If you want to trade at your target level, but the current price is not yet at the price you want, so you need to place a pending order in the place you want. If the current price touches the pending order, the pending order will turn into your trading position.

As long as it is not touched, the pending order will be there until it is deleted.

Limit order in Forex:

This limit order is like we want the current price to return to the previous price. Like a bus left behind the passengers, and then a bus makes a U-turn to pick up passengers. There are two types of order limits, namely:

i) Buy limit
You will place a pending order below the current price. An example of the current price of EURUSD is 1.1300. You want to buy it at 1.12800. So, you can place a pending buy limit at the price of 1.12800.

ii) Sell limit
You will place a pending order above the current price. An example of the current price of EURUSD is 1.13000. You want to sell at 1.13200. So, you can place a pending sell limit at the price of 1.13200.

Stop order in Forex

Stop order if we want the price to break certain levels that is important and collect our order. Like a bus seeing a bus stop and picking up passengers. Not making a U-turn. There are two types of a stop order, namely:

i) Buy stop
You place a pending order above the current price. An example of the current price of GBPUSD is 1.30000. You want to buy it at 1.30200. So the pending buy stop order is at 1.30200.

ii) Sell stop

You place a pending order below the current price. An example of the current price of GBPUSD is 1.30000. You want to sell at 1.29800. so pending order sell stop is at 1.29800.