Following is a brief description of the types of basic orders that can be placed in the Forex market:
Market Order
A market order is an order to buy or sell at the current market price. For example, EUR/USD is currently trading at 1.2045. If you wanted to buy at this exact price, you would click buy and your trading platform would instantly execute a buy order at that exact price.
Stop-Loss Order
A stop-loss order is a limit order linked to an open trade for the purpose of preventing additional losses if the price goes against you. A stop-loss order remains in effect until the position is liquidated or you cancel the stop-loss order. Stop-losses are extremely useful if you don’t want to sit in front of your computer all day worried that you will lose all your money.
Other Order Types
GTC (Good ‘til canceled)
A GTC order remains active in the Forex 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 you have the order scheduled.
GFD ( Good for the day)
A GFD order remains active in the Forex market until the end of the trading day. Because the foreign exchange is a 24-hour market, this usually means 5:00 p.m. EST since that is when the U.S. markets close, but you need to double check with your broker to determine the exact time of the end of the trading day.
OCO (Order cancels other)
An OCO order is a mixture of two limit and/or stop-loss orders. Two orders with price and duration variables are place above and below the current price. When one of the orders is executed the other order is canceled.
Example: The price of EUR/USD is 1.2020. You want to either buy at 1.2075 or sell at 1.1965. If the OCO order reaches the 1.2075, you will buy and the 1.1965 sell order will be automatically canceled.
Forex Market Strategy
Financial Forex market is a popular place to trade world currencies for specialized traders, brokers and individuals who want to earn money online. At online Forex market anyone can get a financial success with the help fundamental knowledge, continuous training and business luck. Briefly speaking Forex market strategy is a method of using currency exchange rates from different countries to buy one country's currency when it is undervalued and exchange it for another country's currency when it is of normal or higher value. By using Forex market strategy you will get profits from the difference of currency exchange rates.
Our managed Forex day trading system will help you to raise your business profits, increase financial success of your company and personal income. But before you decide to try managed Forex trading strategy in practice and invest in foreign exchange real money, we strongly recommend you to determine your investment purposes, level of experience and possible risks. Before using managed Forex trading strategy you should be well informed about all risks associated with foreign exchange trading and in case of any problem consult with our financial advisors.
You can start trading on financial Forex market from everywhere you want: your home, office and even on the road with your mobile phone. Install financial Forex market platform on your computer and begin to earn money.
Register any Forex trading account with us and we will provide you with top-notch customer support and high level services to help you follow your chosen Forex market strategy successfully.
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Forex Practice Account
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Although anyone can learn some basics and techniques of trading on this lucrative market, trading with Forex practice account makes huge difference allowing you to get insight in how Forex market works and learn tendencies of changing foreign exchange rates in the fast and convenient way.
By giving you the opportunity to practice with streaming Forex rates, live Forex quotes, forecasts, analysis and many other useful tools, Sigma Forex helps you start speculating on price fluctuations with real Forex trading account.
Sigma Forex Demo Account
Forex demo account is the best way to try Forex market trading without risking real money; it's also a great opportunity to learn and train your trading skills. Sigma Forex is here to give you a chance to choose demo account on Forex to evaluate all the advantages of fully functional version of our Forex trading platform, get access to the latest news, analysis tools, technical charts and much more. Opening of Forex demo account allows to you to investigate the process of technical and fundamental analysis as well as to develop trading tactics and strategy for operations execution and control over orders.
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