A:
Entry Order: An order to enter a trade when a currency pair reaches a pre-determined price level.
Entry Limit Order: An order initiating an open position to sell as the market rises, or buy as it falls. The trader believes that at the level of the order, the market will reverse direction.
a. Buy Entry Limit: An order to buy at a price below the current market.
b. Sell Entry Limit: An order to sell at a price above the current market.
Entry Stop Order: An order initiating an open position to sell as the market falls, or buy as it rises. The trader believes that after reaching the order level, prices will continue moving in the same direction as they were in the previous momentum.
a. Buy Entry Stop: An order to buy at a price above the current market.
b. Sell Entry Stop: An order to sell at a price below the current market.
Limit Order: An order tied to a specific position in order to lock in the gains from the position. A limit order placed on a buy position is an order to sell, while a limit order placed on a sell position is an order to buy. All limit orders stay in effect until the client liquidates or cancels the position.
Market Order: A buy or sell order to be immediately filled at the prevailing currency price.
Stop-Loss Order: An order connected to a specific position to close the position and thus prevent further losses. A stop-loss order is executed when the price displayed on GTS hits the order price. The price executed will be the order price or in the circumstance of a fast market the order will be carried out at the next displayed price. When a trader places a stop-loss order on a buy position it is an order to sell the position, while a stop-loss order placed on a sell position is an order to buy the position. Stop-loss orders stay in effect until the client liquidates or cancels the position.