Market order

"There are two types of transaction (order), the first transaction with the current price is called an order market. Second, the transaction at a price to suit your transaction so that no direct wishes. therefore called the current command "

market order

market orders in essence, you trade on the prices in effect at the time. Buying average purchase price "demand" in effect at that time, or sell the means to sell at a price "bid" in force at that time

For example, the price of EUR / USD at that time showed 1.2934 / 1.2938.
This means that if you want to do on the date of the order on the market of the transaction, so that if you make a purchase, the price of EUR / USD you get a broker is 1.2938. And if you sell while the price of EUR / USD is 1.2934 broker offered.

Pending Order

pending orders are automatic orders to open Buy or Sell if the price of your order is reached . When the price of your order is not achieved, then the current command is still active and will wait until the price of your order intact. pending orders can be divided into 2 Pending Order Stop and Limit Order waiting.

If you predict that the market move higher when entering a specified limit price higher than the current price, and you want to open a buy position on the market touched the limit use the Stop Order Buy.

if you predict that the market will move kept down if it enters a price limit some lower than the current price, and you want to open a position for sale when the market touched the limit, use sale Stop Order.

If you predict that the market will be bouncing if it affects a specified limit price lower than the current price, and you want to open a buy position on the market touched the limit, use a limit Order buy.

when you predict the market will be behind the downward direction if it touches a price limit specified higher than the current price, and you want to open a sell position when the market touched the limit, use a limit order to sell.

period for the asset waiting

Although we predict market direction and we have pending orders, sometimes changing market conditions that are not consistent with our predictions. If the current command has been executed, even if its market conditions have changed, this may result in losses. Therefore, we need to put in place when we are waiting for active. Several options for setting download pending orders us:

GTC (Good Till Cancelled)
Good Till Cancelled means the order pending will remain active without time limit, until we manually cancel, GTC is the default value of a pending order

GTD (Good till Date)
Good till Date means current command will remain active until the deadline we set

OCO (order Cancels other) [1945011th]
to Cancels other means we mengorder 2 pending orders to time. If the current command is executed, then automatically the other order will be canceled.

By understanding the market orders and pending orders, I hope you get the idea that we have to be always in front of the computer to watch the market movement and operations. We can negotiate a price level that we wanted without us having to be present when the price reaches this level, creating a pending order.

Thus forex trading becomes easy because we should not wait for the market movement.

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