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Order for Forex

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   Order for Forex


So, market order Forex provides for the purchase of currency or other instrument at the current Ask price or sell at the current Bid price. To avoid confusion, what exactly price completed the transaction, please remember a few simple rules.

1. The deal will always be made at a price less profitable for the trader. That is, the purchase is always at a higher price (Ask), and sold at lower (Bid). Similarly, work pending orders Forex (pending orders).

2. All calculations are fully automated trading terminal, which makes it a trader.

The presence of market orders on Forex allows the broker ample opportunity for manipulation. For example, the broker may execute your market order Forex profitable price. If the price goes in your direction (upward in the purchase, down in the sale), broker (trading terminal) to repeat the request for opening orders on Forex at a new price, and the trader can choose either Yes or no. If the price moves against the trader will place order Forex will be executed.

Pending orders Forex do not have this drawback, since they are executed at clearly the asking price, which is already taken into account the values of the Ask and Bid, as well as spread.

Types of pending orders Forex:

 1. Buy Limit - buying at the Ask price of the set value. The current price is higher than requested in the order. That is, such an order Forex exhibited in the calculation of the growth rates after a decrease.

2. Buy Stop - buying at the Ask price of the set value. The current price is lower than requested in the order. That is, such an order Forex is billed based on the breakout of the price of a certain level above the current rates and continuing growth.

3. Sell Limit - selling at the Bid price of the set value. The current price is lower than requested in the order. That is, such an order Forex is exposed in the calculation of the price fall after a rise.

4. Sell Stop - selling at the Bid price of the set value. The current price is higher than requested in the order. That is, such an order Forex is billed based on the breakout of the price of a certain level below the current rates and continuing to fall.

And last the type of Forex orders - stop orders or stop orders. The purpose of these orders Forex profit/loss and insurance against significant losses when trading. There are Stop Loss and Take Profit.

Stop Loss always set below the current price when buying and up - selling, fixing, thus, the loss in case of a rollback prices unfavorable to a trader's side. Agree, it is better to lose part of your Deposit, all with a strong market movement. Because the trader may not always be in front of the monitor, watching the open position, the stop order is very convenient.

Take Profit set in the expectation that the price will reach a certain level, the position will be closed with profit. This order Forex is always placed above the current price when buying and lower for sale.

The classic rule of money management in Forex is the ratio Stop Loss to Take Profit should be equal to 1:2 or 1:3.

When exposed pending orders Forex may not work? During the gap (gap) on Monday, when the price can “jump” pending orders Forex. Such orders on the Forex will be simply cancelled. Sometimes the gap is possible after the release of important news, but this is extremely rare.

The presence of “slippage”, i.e. the triggering of stop orders on the worst price is a sign of a bad broker. The Alpari, by the way, “slippage” is missing.

The above orders are available in the trading terminal MetaTrader (Metatrader) 4. The MT version 5 has 2 types of orders in Forex, which are discussed in the article "What's new in the program MetaTrader 5?".

And the last important tip - opening order Forex, market order Forex or pending orders Forex, always consider the opening price, the spread on the currency pair and, of course, swap. The latter is important if you expect to hold the position for longer than a day. Again, the broker Alpari very good trading conditions - small spread on popular currency pairs, changing swaps at positive and many other important and, therefore, profitable for the trader features.

Count your orders Forex with before opening them, dear traders, and the profit will be!

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