Order forex (Forex order).

All operations for buying and selling currency through the trader’s trading terminal are carried out using Forex orders, so it is quite important for the trader to know what these orders are and the features of their execution.

Order forex (Forex order) – an order to open a new position on the foreign exchange market or to take actions in relation to an existing one. Its classification will depend on the tasks that this order is designed to solve.

At this time, the following system of dividing market orders is used:

1. By execution time - into instant and deferred, instant ones are executed immediately, postponed in accordance with established parameters (by time or exchange rate value).

Placing pending orders has a lot of additional aspects; they are described in detail in the article linked above.

2. In the direction - purchase or sale, in the first case the base currency in the currency pair is bought, and in the second it is sold accordingly.

3. Market or stop orders - we should dwell on this point in a little more detail:

• Market order forex - used when opening a new position, without its use not a single transaction is carried out on forex.

The menu for placing a new order is called up by pressing the F9 key when the trader's terminal is running. • Stop order forex – this group includes orders to close transactions, three of which are placed directly by the trader, and two can be issued by the broker.

Stop loss – allows you to reduce possible losses by specifying the rate at which the Forex order will be closed.

Take profit - performs similar actions, but on profitable transactions, closing them when a given level of profitability is reached.

Trailing stop – moves the stop loss towards profit, thereby fixing the result in the no-loss zone.

Margin call is the level at which a trader can decide to close a losing position; usually it is at least 50% of the trader’s deposit amount.

Stop out is a level upon reaching which the trader will necessarily close your position; the loss has reached 80-90 percent of the trader’s total funds.

A Forex order can perform both basic and additional functions to reduce possible risks when trading on the foreign exchange market. And if ordinary orders require only technical skills, then when placing stop orders you need to take into account a lot of different details.