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👶 Trading For Beginners | ORDER TYPES 👦👧

Education
FX:EURUSD   Euro / U.S. Dollar

There are multiple ways of opening a trade in a trading terminal.
Here is the list of universal order types that you MUST know:

1. Market Order
A market order is a trade order to buy or sell a desired financial instrument on a current market price.
In such an order type, the price is determined by the market.
Constant price fluctuations and spreads make market order quite risky way of opening a trading position.

2. Limit Order
A limit order is a trade order to buy or sell a desired financial instrument at a specific price level. It allows the trader to enter the market on a strict price level ignoring the price fluctuations and spreads.
A limit order can be referred to as a buy limit order or a sell limit order.

3. Buy/Sell Stop Order
Buy stop order is used to buy at a price above the market price, and it is triggered when the market price touches or goes through the Buy Stop leve.

Sell stop order is used to sell when a specified price is reached.

The selection of order types is based on a trader's trading style.
Let me know in a comment section which order types do you apply in your trading!

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Comments

As a relative beginner to crypto this is very useful. Thanks for sharing.
+3 Reply
Thank you
+3 Reply
Thank you for sharing!
+3 Reply
Isn’t paper trading available on mobile? I don’t have a PC or laptop.
+3 Reply
@Smithy88 it's available
Reply
Share you thoughts here!
+3 Reply
I never used market order
+2 Reply
educational
+1 Reply