What is a sell limit, sell stop, buy limit, buy stop.
Download and install a demo account from any forex broker (very easy to set up). Mess around with the different order types and see what happens.
Any order that is not a straight up market order (either hitting the bid or ask) will be at a price different from the bid or ask.
Examples:
Whether that is higher, or lower, or it’s to open or close a position is completely dependent on what you’re trying to do.
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I use bots for this, there’re a lot of bots for free
To clarify it much more, Those are all pending orders, which means you place them before the market reaches the desired level.
A sell stop means you are selling below the current market price. e.g. the market is currently at 1.2455. you can place your sell stop at 1.2450, This means that you are confident that the market is going to continue falling.
A sell limit means you are selling above the market, thus expecting a reversal at a certain level above the current market price. e.g. if the market is currently at 1.2455, you can place a sell limit order at 1.2460 expecting a bearish reversal at that price level
Buy limit means you are buying below the market expecting a reversal below the current market price. e.g if the market is at 1.2455, you can place your buy limit order at 1.2450.
Buy stop means you are buying above the market expecting a bullish continuation. I am sure you have grasped the concept such that you can come up with an example of a buy stop order.
i hope this was informative to you fellow trader.
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It’s in the Pipsology lesson.
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i am agree with Leslie, ,
lots of bots which is completely free , personally i also use bots for this.
A limit order is an order to buy or sell a stock at a specific price or better. A buy limit order can only be executed at the limit price or lower, and a sell limit order can only be executed at the limit price or higher.
A stop order , also referred to as a stop - loss order, is an order to buy or sell a stock once the price of the stock reaches a specified price, known as the stop price. When the stop price is reached, a stop order becomes a market order
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lol. experience being the best teacher.
there’s a simple way to explain this, baby pips did explain it in their education area but if that’s not enough:
sell limit: you place this order with an assurance to enter a trade at a price higher than the current price which is going long, believing that the price would reverse and go short
buy limit: you place this order with an assurance to enter a trade at a price lower than the current price which is going short, believing that the price would reverse and go long
sell stop: you place this order with an assurance to enter a trade at a price lower than the current price which is going short, believing that the price would continue to go short
buy stop: you place this order with an assurance to enter a trade at a price higher than the current price which is going long, believing that the price would continue to go long
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exACTLY what the diagrams say
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I believe that these limits depend solely on the trader and broker with whom he works.
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Thank you sorry for responding so late
Thank you very much
There are many important market orders which are important to know like limit order(When you wish to close a trade seeing a favorable change), stop order to open (where you get to trade in breakouts), stop order to close (when the market moves in the unfavorable direction you place a close order).
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Nicely explained.
And you can check on babypips education to understand more.
Sell limit - Order placed above price and price then goes down
Sell Stop - Order placed below price and price keepings down
Buy limit - Order placed below price and then goes up
Buy stop - Order placed above and price keeps going