O cashback forexder Types By "types" we mean how you will enter or exit a trade Here we d forexbrokercashbackcuss the different Best forex trade cashback types Figure out which order types your broker accepts Different brokers use different types of orders All brokers use some basic order types, and some Special order typesOrder types Instant orderAn instant order is an order to buy or sell at the current bestcashbackprogramsforexFor example, the bid price for EUR/USD is Bestforextradecashback.2140 and the ask price is 1.2142If you want to buy EUR/USD in the market, then you can buy it at 1.2142You can execute a buy order immediately at the exact price on the trading platformIf you ever shop at Amazon.com shopping, its kind of like one-click ordering you like the current price, you click once and thats it for you! The only difference is that you are buying or selling a currency pair, not a Justin Bieber CD Limit pending ordersLimit pending orders are buying at a certain below-market price or selling at an above-market priceFor example, EUR/USD is currently trading at 1.2050If the price reaches 1.2070 you will want to sell them allYou can sit in front of the monitor and Wait for it to reach 1.2070 (at this point you need to click a sell button) or you can set the sell price to 1.2070 (then you can leave your computer and go to your ballroom dancing lessons) If the price rises to 1.2070, your trading platform will automatically execute a sell order when you think the price will reach the price you have specified by hitting it in the opposite direction to your order. You can use this trading order! For example, GBP/USD is currently trading at 1.5050 and will rise. You believe that the price will reach 1.5060. When you think the price will move in one direction, you can use the STOP pending order!  A stop-loss order is an order placed to prevent additional losses when the price is against what you expect. Remember that stop-loss orders of this type remain in effect until the order is liquidated or cancelled. If you die, once the EUR/USD drops to 1.2200, your trading platform will automatically execute the 1.2200 ask price program and close the trade. If you dont want to spend the whole day in front of your computer monitor in fear of losing all your money, stop orders are very useful for you. Match Trailing Stop Trailing Stop orders are orders that work due to price fluctuations Lets say USD/JPY moves 20 pips at 90.80 This means that your stop price is 91.00 If the price goes down, the price will move from 90.50 to 90.70 but just remember that your price will stay here if the price goes against you it will not expand again for example If the price of USD/JPY is 90.50 then your stop will reach 90.70 but if the price is suddenly raised to 90.60 the stop will remain at 90.70 your order will remain open as long as the price does not exceed 20 pips once the price reaches the price set by your stop order your order will be closed special order "Can I order grande foam with half unsweetened chocolate and white unsweetened cinnamon, put a packet and a half of mate and soy in an extra large cup and add caramel and cream to it to make a large cup?" Oops, wrong, strange order GTC ordersGTC orders stay alive in the market until you decide to cancel it Your broker will not cancel the order at any time therefore it is your responsibility to remember that order order order GFD ordersGFD orders stay alive in the market until the last day of the trading day Since the Forex market is a 24 hour market This usually means that the closing time is 5:00 p.m. EST, but we would recommend that you and your broker double check OCO ordersOCO orders are a mixture of two stop loss ordersBoth orders are priced above or below the current priceWhen one order is executed, the other order is cancelledLets say the price of EUR/USD is 1.2040If the sale price is below 1.1985, falling regardless of the level of resistance you want to buy above 1.2095 the breakout is expected or the start of the position it is understood that if the price reaches 1.2095, your purchase order will be initiated and the sell order at 1.1985 will be automatically cancelled OTO orders OTO orders are the opposite of OCO orders because it only works when the OCO order is triggered To make a profit, you must set up an OTO order in advance, especially before you enter a trade. For example, USD/CHF is currently trading at 1.2000 and you think that once it reaches 1.2100, the price will plummet to 1.1900. The problem is that you will be joining a bamboo basket weaving course for a whole week because there is no internet in Fiji. To catch this change while you are away, you must set the sell price at 1.2000 and at the same time, set the buy price at 1.1900 and just in this case, set that stop order at 1.2100 as an OTO order and if your initial sell order is triggered, either the buy or stop order price can only be set at 1.2000, in short... The basic order types (immediate order, limit pending order, stop pending order, stop loss order) are usually required by most traders at all times unless you are a seasoned trader (dont worry, with practice and time), dont be under the illusion of using all order types at all times stick to the most basic order types before executing a trade make sure you fully understand your broker and Agree with him Also, check your brokers specific order information often to see if there are transition fees after holding times longer than a day Making your sorting rules as simple as possible is the best strategy Dont trade for cash unless you have a real order entry system, and a comfort level where trading platform errors are more common!