is opposite to the OCO order as it will trigger one order while filling another one without cancelling. When a pending order triggers it initiates a new market order. Finally, a stop loss on a long position is nothing more than a sell to close stop order. Pending Orders Stop and Limit Orders A pending order is a conditional order that executes if and when certain price levels are reached. This is an all-or nothing instruction, so partial-fills arent allowed. Such as you placed a GTC order day back and forgot to cancel it when it is not necessary, then there is a chance that these orders will open unexpected trading positions automatically. Conditional orders Conditional orders can allow you to create structured systems of trades.
6 MT4, order, types sell, stop Buy Stop Buy Limit Sell Order ( exchange ) - Wikipedia
For example, EUR/USD is trading.2943, and you place a buy order.2903, this is a buy limit order. These are the main order types you will encounter while trading forex. Stop Loss Orders, stop loss orders are similar to take profit orders, with the difference that they are used to limit your loss. This is why its favored by day traders and other market speculators. However not all brokers will honor these additional instructions even though your platform might let you set them. This can be done by setting a chain of sell limit orders that fire as the price moves above the current market level. DD/NDD/ECN/STP (Forex Copier works correctly with all these dealing types).
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