Trade order

Trade order - an order to the broker to execute, close or modify a trade transaction upon occurrence of certain conditions.

The main types of trade orders:

- Market order (market) - an order to immediately buy or sell at the current market price. The specific opening price of the deal is not specified, the broker makes the deal at the best available price. During high volatility market this order can result in significant losses due to the time delay between the opening request and the actual execution of the trade.

Note also that often, if the price at the time of receipt of a request to open an order from the market differs from the possible one, the broker separately notifies the trader about it, allowing him to choose whether to conduct such a deal.

– Order limit (limit) - an order to the broker to buy or sell at a predetermined price. Accordingly, when selling, the limit order is placed above the current price, when buying - below.

– Stop order (stop) - becomes a market order when the market reaches a certain price level, which is communicated to the broker in advance. When selling, the stop order is placed below the current price, when buying - above.

Apart from them, there are also other types of orders, each of which performs a common function for all orders - to implement the trading strategy chosen and set by the trader in the most accurate way.