What types of order can be set in the terminal?
In online trading, all orders are divided into two types:
- Market Order — an order to the broker to Buy or Sell a financial instrument at the current market price (Bid or Ask);
- Pending order — an order to the broker to Buy or Sell a financial instrument at the future market price. There are four types of pending orders:
- Buy limit is set below the current market price. The trader expects the future market price to rebound after falling below the current market price and is seeking to gain profit from such an operation.
- Sell limit is set above the current market price. The trader expects the future market price to rebound from a specific level above the current market price and is seeking to gain profit from such an operation.
- Buy stop is set above the current market price. The trader expects the future market price to pass a specific level which is above the current price and go further and is seeking to gain profit from such an operation.
- Sell stop is set below the current market price. The trader expects the future market price to pass a specific level below the current price and go further, and is seeking to gain profit from such an operation.
