The most important order types and their functions at a glance.

 

 

 

 

 

 

 

 

The craftsmanship and basic knowledge of each trader should include knowledge of the different types of orders. Especially for absolute trading beginners, it often seems confusing why there are several different ways for the same action (buying and selling forex). This is due to the fact that there are different trading strategies that you can all implement in different ways. Even if the knowledge of the different order types is still not a guarantee for the TRADINGERFOLG, you should familiarise yourself with them before doing the actual action, because they offer the trader ample opportunities to open and close his positions. To learn how to use a trading platform such as MetaTrader 4 or other software and to understand how the different types of orders work, you should use the possibility of a demo account that most Forex brokers for your trading platform Offer. Because of the different order types, the trader is able to act on more complex strategies without having to constantly observe the market. This allows orders to be opened or closed in the market without the trader having to enter the order manually at a certain time. Instead, a previously placed order is automatically executed as soon as certain conditions are met in the market-without the trader having to influence his trade again. Thus, a resistance or support can already be placed in the market well ahead of a pending order and face a stop. If the course now touches this brand while you are asleep or out of the house, the order will still be triggered without having to intervene directly. The most widely used order types are then briefly released. In addition to the orders presented here, some brokers offer other order types that allow more complex strategies.
Market Order
The market order refers to orders that are immediately forwarded to the market and executed at the current price (long or short). Kaufauträge are always executed at a market order at the ask rate-the price that other foreign exchange traders demand for the foreign exchange. Similarly, sales orders are always executed at the bid rate. If you are dealing with an FX broker, the statement you just made applies to each order type-the spread thus falls into every transaction (i.e. every purchase and sale). The spread is the only source of income for most brokers. Anyone who wants to perceive a particularly narrow spread because he is a scalper can also pay a fixed commission per trade. You can find corresponding ECN accounts in our forex broker comparison. With market orders an immediate execution of the order is guaranteed and thus an immediate opening or closing of the position. If a job is to be executed quickly, this order is recommended. Those who do not wish to receive re-quotes, i.e. a delay in trading by re-querying the course, should contact an ECN/STP broker such as
Order Mask
In the order mask of the MetaTrader 4, the trader can choose whether to give up a Marketorder or a Pendingorder. With the Marketorder he is immediately in the market.
Limit order
Limit orders are limited contracts. This means that they are not executed until certain market conditions are met. Limited purchase orders (limit orders) are used if you want to pay a maximum of a certain price (i.e. buy under the current market level). Similarly, limited sales orders are used (sell-limit) if you want to achieve at least a certain sales price on the market.
Order Mask
A limit order can be placed in the market by the trader in advance. It is triggered even if the trader is not sitting on the computer.
Buy limit
The Buy limit orders are therefore only executed at the market price if the price is below the limit order. Limit orders are recommended if you want to smooth out an open position at a more advantageous rate than the current market price or to make a position at a better price.
Buy limit
The trader can put a buy limit order on a resistor, which, for example, could not be broken down twice. If the course touches a third time, the price level is triggered by a long order.
Sell limit
The sell-limit order is the opposite of the buy-limit order. The short order is then triggered when the market encounters the previously defined mark. Sell-limit orders are suitable for use on resistors, while buy-limit orders are best suited for the purchase of support.
Sell limit
The trader can buy a sell-limit order mirror

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