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If I understand you correctly, if I want to sell a currency pair above the current price I use Sell Limit, and if I want to buy that order again under the current price, which I guess is the same as close that order, I use Buy Limit? And also if I want to buy a currency pair under the the current price I use Buy Limit, and If I want to sell that irder arti pending order forex over arti pending order forex current price, which I guess is the same as close that order, I use Sell Limit?
If this is correct I then quess these two orders sell and buy, and buy and sell orders is completed. Stop and limit orders are just pending orders that will be triggered if certain conditions are met. If you use a Sell Limit to open a position and then set up a Buy Limit, it will close that position on triggering, but you can close the position before the pending order triggers and then it will open a roder position in Buy direction. This article is ordder explanatory, but a diagramatic representation is required.
Does the broker know when we make a pending order? Yes, they know about it. And what happens if they are not triggered or there is a reversal. If pending orders are not triggered they will sit there until expiry if you set one or indefinitely. Fill out the form below to signup to our blog newsletter and we'll drop you a line when new articles come up. Forex Odder Forex articles tips tricks ebooks tools novice forex trader advice. Pending Orders in Forex Trading.
I have a few questions about pending orders. Kind regards Peding Jensen. An example diagram added to aid you. I hope it helps. Whether you would be paid depends on whether a position open and closed with artti orders is profitable or losing. Tell us what you think about this article! Mail will not be published required. Subscription Fill out the form below to signup to our blog newsletter and we'll drop you a line when new articles come up. Forex trading involves a substantial ordre of loss, and may not be suitable for everyone.
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Pending Orders in Forex Trading. admin on May The concept of the pending orders can seem somewhat complicated to the new Forex traders.
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