There are several forex order types in forex trading and all traders need these to survive and make a profit. It doesn't matter which site you play on, but what matters most is the type you choose. This is not an option, but an obligation in forex.

Don't be complacent about the knowledge you have gained from your trading. It could be that this is just the beginning with there are still many lessons about trading that must be mastered. Forex Orders have various types that must also be memorized first.

Traders must be able to manage their trades with a broker. Here, there will be an understanding of the relevant markets and help traders to practice the required equity. And this is also what can be practiced in the best forex broker live trade.

The term Order basically refers to how someone will enter or exit a trade. The system that has been provided will make the broker accept or decline different types of orders placed by traders. So, how many orders do you already know？

Several Forex Order Types that Everyone Must Know

If you are relatively new to the forex market, then don't be surprised if there are many terms to learn. Those who are already pro and have been playing forex for a long time, should not stop learning. Still have a lot to learn including learning order types such as:

1.Market Order

Market Order, this is a forex orders type that is used when entering the market. In other words, you will “ask” the price to go down before buying. Not asking to go down directly, but setting the price at a certain number.

And when it reaches the predetermined number, later there is the possibility to go higher. But because you don't want to take risks, what is more, appropriate is to buy or sell directly even though the price is volatile.

2.Limit Orders

There are also forex order types called limit orders that apply to buy below the market or sell above the market certain price. Usually, traders will buy a limit at a specific price and also sell it at a better price. This requires good execution experience.

3.Trailing Stop Order

This technique is not tied to an open position. But this trailing stop Forex order types will make someone more profitable in a volatile market. It combines top loss techniques together with limit orders to reach the maximum price pip.

4.Stop Entry Order

There is a stop word here, which means you will order from executing until the price reaches the specified stop number. You can stop at any time, but because we are not always in the market, you can place a stop entry first.

5.Stop Loss Order

In contrast, to stop entry, this one forex order type prevents you from losing too much. For example, if the price has dropped by 20%, it will be sold automatically to avoid bigger losses. And this forex order types is widely used.

6.Pending Orders

There is also a so-called pending order, a phase where you are not sure you will execute a decision. This pending order is still rarely practiced because it is often equated with doubt. Even though it is clear these are forex order types.

From all this, do you know which one to use？ It's definitely confusing, but a good broker will provide an easier-to-understand explanation. Try practicing and learning at the same time at the salmamarket forex broker and we guarantee you will be more profitable.

Instead of not knowing which order technique to use, you should use the order technique that is as comfortable as possible. The others are fairly well known, but if you're going to put them into practice, choose one of the forex order types and learn how to get better.