Have you known the types of forex transactions? By understanding the types of forex transactions, we can maximize profits by utilizing these different types of transactions. You can visit fxcm markets to get the best forex investments.
When do we know if the current price is the lowest price, and where do we know if the current price is the highest price? So the problem here is to determine the lowest point and the highest point, which point is already low enough to start buying, and which point is already high enough to sell. While this can be predicted with fundamental analysis and technical analysis, there is no guarantee that the analysis will be accurate.
To anticipate, there are several ways that can be done by understanding the types of transactions that exist in forex. The type of sale and purchase order transaction on the broker consists of Market Order or Instant Order and Pending Order. A market order is an order to be executed based on the selling price of the broker (Ask Price) or the purchase price of the broker (Bid Price). While Pending Order is an order where you can specify transactions at a certain desired price.
There are 4 types of Pending Order transactions you can do:
- Buy Stop
Buy Stop means Buy if price> set price. In this transaction, the trader will buy when the price continues to rise and has passed a certain point set by the trader. In this case, the trader selects the pending fxcm markets order on the initial condition of the Bullish market (the price is expected to continue to rise).
- Sell Stop
Sell Stop means Sell when price
- Buy Limit
Buy Limit means Buy if price
- Sell Limit
Sell Limit means Sell when price> specified price. In this transaction, the trader will sell when the price that was going down will reverse upward to a certain price before continuing the decline again. This condition is also called Sell On Strength. In this case, the trader selects this pending order if the market thinks it will reverse direction after rising at a certain level in order to get a better selling price.
