ORDERS INPUT OUTPUT AND DURATION FOREX

There are different ways of entering and leaving the market Forex depending on thetype of strategy that we use. These are:

ORDERS INPUT

I order of market (market order)
An order to enter the market at the current market value. If the quote for the EUR/USD is 1.2538/41, in a market order to 1.2541, and sells to 1.2538

II - order limit (limit order)
This order left that we can enter the market at a price below the current price (if you are going to buy) or above current price if we are going to sell. This type of orders are used for bands or delays (retracements) strategies

-Band strategies: buying at the lows of a channel and sell at the highs of a channel.
-Strategies for delays: expect this lowest price to buy or to sell higher.

III - stop (stop entry order) command
In this type of order you buy at a price higher than the market or sold at one price below the market. This type of orders are used for breaking strategies.


-Strategies breakdown: wait until the market reaches new maximum or minimum prices to enter the market in the direction of the break




OF OUTPUT ORDERS

I - Order limit (limit order). An order of limit or profit (take profit order) taking order specifies that level will leave the market by the side of earnings. If a trader buys this order is higher than the market price. If the operator sells, the order must be lower than the market price.


II - stop order (stop order). Specifies which is the maximum amount of pips we are risking on a position. If you buy this order must be below the market price, if we sell this order must be above the market price.




DURATION OF THE ORDERS

I valid until cancelled (GTC, by its acronym in English: "good till cancelled). This order remains active or "valid" until the market reaches certain level or cancelled by the operator.

II - valid until "N" (GTN, for its acronym in English: 'good Hill N'), where N is a period of time such as: an hour, a day, a week, etc.) This order remains active until the market reaches certain level or a period of time.


III - One cancels the other (OCO, for its acronym in English: "One cancells the other"). An OCO order is a combination of two orders: a limit order and a stop (SL). An order is below market, and another is fixed above-market (no matter if they are orders of purchase or sale), when the market reaches an order, the other is automatically cancelled.