Forex Trading Orders

What is a market order?

• An order to buy or sell a currency pair at a specific price or better

• An order to buy or sell a currency pair immediately at the best available price

• An order to buy or sell a currency pair when it reaches a specific price level

What is a limit order?

• An order to buy or sell a currency pair at a specific price or better

• An order to buy or sell a currency pair immediately at the best available price

• An order to buy or sell a currency pair when it reaches a specific price level

Where are buy limit orders placed in relation to the current market price?

• Above the current market price

• Below the current market price

• At the current market price

Where are sell limit orders placed in relation to the current market price?

• Above the current market price

• Below the current market price

• At the current market price

What are stop orders used for?

• To limit potential losses

• To lock in profits

• To enter the market in the direction of the current trend

Where are buy stop orders placed in relation to the current market price?

• Above the current market price

• Below the current market price

• At the current market price

Where are sell stop orders placed in relation to the current market price?

• Above the current market price

• Below the current market price

• At the current market price

What is the purpose of a stop-loss order?

• To limit potential losses

• To lock in profits

• To enter the market in the direction of the current trend

To lock in profits or to enter the market in the direction of the current trend?

• To lock in profits

• To enter the market in the direction of the current trend

To limit potential losses or to enter the market in the direction of the current trend?

• To limit potential losses

• To enter the market in the direction of the current trend