What does stop-loss pending order mean? Foreign exchange pending orders are a common technique used by traders. There are many ways of foreign exchange pending orders, today I will explain to you what stop-loss pending orders mean.
What is a foreign exchange pending order?
A foreign exchange pending order refers to a trader setting an automatically executed order after determining the transaction currency, amount, order direction, and transaction target. Once the market price reaches the price specified by the trader, the order specified by the trader will be executed to complete the transaction.
Why do you need to make a foreign exchange pending order?
Everyone knows that the foreign exchange market has relatively large volatility and frequent volatility. Therefore, sometimes when the market situation reaches the ideal price of the trader, the trader has no time to operate and loses a good unit price. Trading opportunities in the foreign exchange market are fleeting, so in order to place orders in time to buy at a good price, it is a good choice to perform foreign exchange pending orders.
What does stop-loss pending order mean?
A stop-loss pending order refers to a pending order whose price is lower than the current market price. That is to say, the trader’s pending order to sell is lower than the current buying price or the trader’s pending order to buy a pending order transaction that is higher than the current selling price. When the transaction price reaches the customer’s pending order, the pending order is executed. Corresponding to a stop-loss pending order is a profit pending order, that is, a pending order whose price is higher than the current market price.
Where to place a foreign exchange pending order? How to place a pending order?
Most traders in the foreign exchange market use mt4 software for foreign exchange transactions, so traders can place foreign exchange orders on the mt4 software.