Types of Forex Orders Flashcards Preview

Pipsology > Types of Forex Orders > Flashcards

Flashcards in Types of Forex Orders Deck (9)
Loading flashcards...
1

The term “order” refers to?

How you will enter or exit a trade

2

A market order is an order to?

buy or sell at the best available price

3

For example, the bid price for EUR/USD is currently at 1.2140 and the ask price is at 1.2142. If you wanted to buy EUR/USD at market, then it would be sold to you at the price of?

1.2142.

4

A limit entry is an order placed to either?

buy below the market or sell above the market at a certain price.

5

A stop entry order is an order placed to buy?

above the market or sell below the market at a certain price.

6

A stop loss order is a type of order linked to a trade for the purpose of?

preventing additional losses if the price goes against you.

7

A stop loss order remains in effect until?

the position is liquidated or you cancel the stop loss order.

8

A trailing stop is a type of stop loss order attached to a trade that?

moves as the price fluctuates.

9

With a trailing stop of 20 pips, if USD/JPY hits 90.40

then your stop would move to 90.60 (or lock in 20 pips profit).