is an instruction of the Client to open a trading position in the case when the price reaches a pending order. This order, which client sends to his broker, to be executed if the market price reaches the desired value. In this case, the intermediary should buy or sell a specific amount of a financial instrument at a specified price. In some cases the customer is not satisfied with the current market situation with the price level, which is set by the market at the moment. A trader in such cases may have doubts that the price will go further in that direction. In this case, the trader may use pending order. Execution of order does not require the presence of the trader. Opening position is carried out by a broker automatically. In this case, the trader can take a break in the future forecasting of the market, because of the need to pass some time before opening the desired position.
There are four types of pending orders: Buy Limit, Buy Stop, Sell Limit and Sell Stop. Buy Limit - this is an instruction of the opening transaction for the purchase. If the price reaches the order level Ask. In this case, the current price level should be higher than the value of the opening level of the transaction. Buy Stop - an order that the intermediary for a transaction to purchase the instrument. In this case, the current price level should be below the opening level of the transaction. Sell Limit is an instruction of that the opening of trading positions in case of a sale price of the Bid opening level value of the transaction. When you install orders the current price level should be below the level of activation orders. Sell Stop is an order for opening a deal to sell when the price reaches the desired value of the Bid opening transaction. Before installing the order, the price level should be above the level of Sell Stop. When correctly installed with these order, you can increase your chances of unnecessary losses in the forex market.
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