Trading Orders
There are different types of orders which one can use to trade in Energies.
At the foundation of successful energies is making use of the correct order for its correct purpose. The most important things to remember about is this: Always understand orders you place. Never place a order which as a trader you are not entirely knowledgeable about. Given below are the some basic definitions of the commonly used types of orders:
Types of Trading Market Orders and Energies Pending Trading Orders
Market Trading Order
This is the most basic type of order, market order is used to buy or sell at the current ask or bid energies quote price. This refers to the quoted price that appears on your energies software.
This type of order is used for buying or selling according to the present exchange rate quotation in Energies, the execution is instant. The minute you want to enter a position you can buy & sell the energies at a click of a button using a market order.
Entry Trading Orders
These are orders used to open a new trade after the market reaches a price specified by the trader.
Entry orders are used to buy or sell a energies instrument when it attains a certain price target.
When a specific price level is reached or broken then a energies entry order is executed.
These Entry Orders are used open and enter in to a trade at a specified price level. It is almost impossible to monitor the market every second and this is why an entry order can be handy. If you feel the market may take a certain action, such as break through a specific price level that it has been touching but it has not been able to break, you would want to use an Entry Limit Trading Order. Once the market crosses your specified level, your entry limit trading order is executed.
There are two different types of entry orders - limit order & stop entry order.
The entry orders are also referred to as pending orders.
Entry Limit Trading Order
An order to buy or sell at a specific limit.
An entry limit order can be used to buy below the current price or sell above the current price.
When buying, entry limit is executed when the price falls to your limit area.
When selling, entry limit is executed when the price rises to your limit area.
The Entry Limit Orders are placed by traders when they expect the market to bounce back after reaching the price level at which the entry limit was placed.
- Buy Limit Trading OrderSpecifies to buy at a specified level below the current market price
- Sell Limit Trading OrderSpecifies to sell at a level above the current market price
Entry Stop Order
An entry stop order to buy above current price or to sell below the current price.
When buying, entry stop order is executed as the market goes up and hits the buy stop level.
When selling, entry stop order is executed as the market goes down and hits the sell stop level.
- Buy Stop Trading OrderSpecifies to buy at a specified level above the current market price.
- Sell Stop Trading OrderSpecifies to sell at a specified level below the current market price.
What is a Trading Plan? - Writing a Trading Plan Example
Alternatives: EA Automated Robots or Copier Trading Signals
