Types of Forex Orders
There are several types of orders in Forex trading, all of which will help you control how you enter and exit the market.
Market Order: Market orders are executed live at the current market price. They are used to open or close a trade at the market price.
Limit Orders: Limit orders are orders to exit the market at a profit: above the market price if you're going long, below the market price if you're going short.
Stop-Loss Order: Stop-Loss orders close your trade if it reaches a pre-determined level of loss. Stop-Loss orders are crucial to your risk management plan.