Forex Trade vs Order

Forex Trade vs Order

When it comes to Forex trading, there are two main types of orders: market orders and limit orders. Market orders trade at market prices, while limit orders can be placed at a lower price. This allows you to take advantage of good prices and execute your trade at the optimal price. Limit orders are also called pullback trades. Limit orders, on the other hand, will be filled only if the price falls below a certain level.

Market orders execute in real-time, when placed, and search for the best available price. The price may be different than what you intended, but this is known as slippage in the markets. Slippage can work in your favor or against you, depending on your order and the market conditions. In addition, market orders immediately become an open position. Profits must be realized when the position is closed, so they are not ideal for every situation.

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