This is your order to buy or sell at the price available at that time. In the Dealing Rates window, simply go to the currency pair you want and click on its Buy or Sell price.
This option allows a trader to buy or sell at a price different from the current price. Use this to automatically open a trade for you when the price you designate is reached, whether your computer is on or not.
This is an order to make an At Best market order when the market touches a specific price. Use it when you want to enter the market at a less-favorable price than the current price (higher price if buying, lower if selling).
This is an order to enter the market at a better price than the current one. Limit Orders are only filled at a designated price. When buying, lower prices are better, and when selling, higher prices are better. (Since FXCM No Dealing Desk execution* allows you to place orders anywhere, you can even use limit entries to place orders inside the spread to gain incremental price improvements.)
To make either a Stop or a Limit Entry Order, click on the “Entry Button” at the top of the trading station, and choose the parameters of your order in the Create an Entry Order box.
This type of order is designed to help you manage your risk by preventing one trade from wiping out an account.
This order automatically closes your entire position at the best available price once a certain price is reached. A Stop-Loss Order can only be set at a price less favorable than the current price.
A Limit Order works much like a Stop-Loss Order, but you set it to close automatically your trade when the more favorable price you selected is reached. Set a Limit Order as you would set a stop order; the Limit price appears in the Limit column in the Open Positions window.
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Type
of Forex Orders