What are the four types of pending orders in forex trading?

Foreign exchange pending order types can be divided into four main types, namely buy limit, sell limit, buy stop and sell stop. different trading techniques, need to use to different types of pending orders.

buy limit in Chinese for the buy limit, in the current exchange rate of the lower hanging buy orders, that is, low do more.

For example, if you think the exchange rate down to a certain price will rebound upward, you can do more at a certain price, you can choose this type of pending orders, when the price goes to a certain price when the system will be automatically closed. For example, now the price of gold in 1220, want to do more in 1210, the use of buy limit.

Sell limit in Chinese for the sell limit, in the current price above the sell order, that is, the high short.

For example, if you think that the exchange rate rose to a certain price will rebound downward, you can short at a certain price, then choose the type of pending orders, when the price goes to a certain price when the system will be automatically closed.

buy stop Chinese for buy stop, hang a buy order above the current price, that is, a breakthrough to chase more.

For example, if you think the exchange rate rose to a certain price will determine the upward trend, continue to go higher, you can do more at a certain price, you can choose the type of pending orders, when the price went to a certain price when the system will be automatically closed.

sell stop Chinese for sell stop, hang a sell order below the current price, that is, the breakthrough chase short.

For example, if you think the exchange rate down to a certain price will determine the trend of decline, continue to go down, you can do short at a certain price, the choice of pending orders, when the price goes to a certain price when the system will be automatically closed.