and, as the name indicates, it is typically used by a currency trader wishing to liquidate an existing forex position at a profit, although technically the level specified. Good For the Day Orders A good for the day order, also called day order, automatically expire by the end of the day if the conditions of the underlying limit or stop order are not met. You can set a sell limit and walk away from your computer to watch your favorite TV show. In order to catch that move even if you are not at the front of the trading platform, you set up a single OTO order to set a sell limit.2200 and at the same time, place a related buy limit.2050, and. You can do one of the following to play this belief: Sit in front of your computer and buy at market when it hits.5060 OR Set a stop entry order.5060. When any part of an if/then OCO order is cancelled (including either leg of the OCO order all other parts of the order are cancelled as well.
If/Then OCO An if/then OCO provides that if the first order (the "if" order ) is executed, the second order (the "then" order ) becomes an active unassociated one-cancels-other (OCO) order. With the expectation that the market price will reach a level lower than the current level, the investor may issue a buy limit order to the price level and the price can be processed automatically when the price reaches the desired level. Note that when either part of an if/then order is cancelled, all parts of the order are cancelled as well. If/Then An if/then order is a set of two orders with the stipulation that if the first order (known as the "if" order ) is executed, the second order (the "then" order ) becomes an active, unassociated, single order. Stop Entry Order A stop entry order is an order placed to buy above the market or sell below the market at a certain price. The buying or selling order given at the instant market price is called the Market Order. This might subject them to the risk of failure on filling the order, so they might place the limit on their order at a rate worse than the"d market rate to be fairly certain of execution.
Such orders are called gel Stop Loss orders. Good Till Cancelled (GTC) A GTC order remains active in the market until you decide to cancel. Or you can set a sell limit order.2070 (then you could walk away from your computer to attend your ballroom dancing class). A take profit order closes your position automatically when the target price is reached in selling transactions. Take Profit Order A take profit order closes your position automatically when the target price is reached in buying transactions. Note the warning drawing attention to the fact that the actual execution price might differ significantly from the"d price. A limit order to sell at a price above the current market price will be executed at a price equal to or more than the specific price. The understanding is that.2095 is reached, your buy order will be triggered and the.1985 sell order will be automatically canceled. An example of this situation could be if a trader gets into a position and then enters both a take profit and a protective stop loss order at the same time. Many retail traders will test an online forex broker for slippage on orders executed in fast markets as a measure of the quality of their order execution service. There are two types of limit orders. In cases where the if order does not execute, the then single order will remain dormant and will not be executed when the market reaches the specified rate.