Courses › From Zero to Trader: The Ultimate Starter Guide
Forex Order Types & Execution Strategies
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What this lesson covers
How you enter a trade is part of the trade. This lesson covers the full set of order types and the situations each one is built for. Market orders fill immediately at whatever price is available, which suits fast decisions and costs you the spread. Pending orders sit and wait: buy limit, sell limit, buy stop and sell stop each place you into the market on your terms rather than the market's. Stop loss and take profit orders are treated as the core of the lesson, because they are what decides your risk before emotion has a chance to interfere. It also covers trailing stops and the more advanced order handling professionals use, and shows how execution choice quietly affects cost, slippage and the results of a strategy.