Petr Hanisch (AliaWeb)
Currencies  |  October 02, 2012 16:09:33

What we know buy orders?


If you have installed trading system and chosen currency pair that you want to trade, to decide what to purchase order. What we have buy orders and what the different types mean? We will try to approach you in the following lines:

different types of purchase orders:
BUY MARKET ORDER
• BUY LIMIT ORDER
• BUY STOP ORDER

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BUY MARKET ORDER - THE ACTUAL PURCHASE PRICE OF THE MARKET

The order, which responds to the current market price. For the current price to buy the required amount of currency. Its implementation must be immediate. If you happen to execution - filling orders takes longer than 5 seconds, be vigilant and keep an eye on the current price at which your order is filled. And while you compare what the price was at the time of booking and the price you've received.If you see any irregularities (and the market is extremely volatile, not just because of advertising messages) Be alert, communicate with the broker, or a search for more robust broker. Also remember that if you buy the currency pair such as EUR USD and the current spread - the price range will be:

"BID" price from 1.2867 to 1.2869. "ASK" price

so you buy at the Ask price 1.2869

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BUY LIMIT ORDER - LIMIT FOR THE PURCHASE PRICE OF THE MARKET

Order by placing a limit on the price at which the currency pair you want to buy. For example, price GBP USD is currently around 1.4238 and you expect to drop to 1.4200 and turns to go up. In this case, place a limit order to buy GBP USD at 1.4200. However, you must realize that depending on the spread buy at a higher price price range. This means that if the spread is 4 pips, the price must fall within the ranges:

1.4196 to 1.4200

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Limit purchase order will take broker only if you specify the limit price is below the current market price. LIMIT order will on the other hand ensures that you get the asking price, or even better. It should not happen that you get worse performance of the order before you request.

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Purchase order that you place above the current market price. For example, the currency pair EUR JPY is at the current price of 122.95 and you for some reason you decide to buy when the price of 123.50, and enter the STOP request. If you enter a purchase order at a price higher than the current market price, usually enters STOP purchase order. (Can be a different type on that in a moment) However follows LIMIT place a purchase order. What happens if you enter a purchase order STOP. Price must first "come" to set your price. In our case,

123.46 to 123.50

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