Forex orders

Limit Order
An order to buy or sell currency at a certain limit is called Limit Order. When you buy, your order is carried out when the market reached down your limit order price. When you sell, your order is carried out when the market reaches up your limit order price. You can use it to buy currency below the market price or sell currency above the market price. There's no decrease with limit orders.

Market Order
The second one is Market Order. It's an order to buy or sell at the running market price. Market orders should be used very carefully as in fast-changing markets there's sometimes a disparity between the price when the market order is given and the actual price of the deal. This occurs because of market decrease. It can lead to a loss or gain of several pips. Market orders can be used to enter or exit a trade.

One Cancels the Other (OCO)
One Cancels the Other (OCO) order is used in case if one simultaneously places a limit order and a stop-loss order. If either order is carried out the other is abrogated which lets the broker to make a deal without supervising the market. Once the market reaches up the level of the limit order, the currency is sold at a profit but when he market falls, the stop-loss order is used.

Stop Order
The last one is Stop Order which is an order to buy above the market or to sell below the market. It's usually used as a stop-loss order to diminish losses if the market behaves opposite to what the broker supposed. A stop-loss order lets sell the currency if the market goes below the point appointed by the broker. In Forex market there are four various types of stop-orders.
Chart Stop order
Chart Stop order is a technical analysis that lets elaborate many possible stops caused by the price charts' action or by different technical indicator signs. The swing high/low point is often used as an example of a chart stop is like. In Figure a broker with our suppositional $10,000 account dealing with the chart stop can sell one mini lot at the risk of 150 points, or approximately 1.5% of the account.

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