ααααααααααΆααααααΆαα·α
ααΆααααααΆβ αααααααααα½αααΈααααΆαααααααα·ααΆααααα»αααΆαααΆααα»αααΆαα»αα ααΌα ααααα αΎαααΆαααΆ ααΆααααααααααα ααΎααααααααααΆααααααΆαα·αααΊααΆαααΆααααααΆααααΆααα ααΆααααααα MetaTrader 5 (MT5) ααΊααΆα§ααααααα½αααΌααα½ααααα’αΆα αααααααΌαααααααααααΆααα½αααΌααααααα αααααΊα’αΆα ααααααααααΌαααΆαααααΆααα½αααΌααααααααα’αααααΆαααΌα ααΆ ααΆαααΆαααααααΆαα·αααααΆα (Market Execution) ααααααΆααααΆαααΆαααααααΆαα·ααα»αααΆαα»α (Pending orders) α αΎαααΆααΆααα»αααΆαααααααααΈααααΆα
ααΆαααΆαααααααΆαα·αααααΆα (Market Execution)α ααΊααΆααααα·ααααα·ααΆα α¬ααΆαα αΌαααΈααααΆαααααΆααααΆααααααααΈααααΆααα αα α»ααααααα ααααα·ααααα·ααΆααα½αααα α’αΆα αααααα’αΆαα·ααΆαα±ααα’αααβα αΌαβαααα»αααΈααααΆαβαααΆαβααΆααβαα ααα
ααΆαααΆαααααααΆαα·ααα»αααΆαα»α (Pending orders)α ααΊααΆααΆαα αΌααααα»αααΈααααΆααα»αααΆαα»α αααααααΉααα»αααΆααΈααααΆαα’αΆα ααΉαααΆααα·ααα ααΌα α’αααΈαααααΆααααααα αααααΆααααααΆ ααΆαααΆααααααααααΈααααΆαα αΌααα ααααααααααααΆαααααα αααα’αααααΉαα αΌααααα»αααΈααααΆααα½αααααααααααααααααααα·αβ
- ααΆααααααΆαα·αααΆαααα Limit (Limit Order)α ααΊααΆααααα·ααααα·ααΆαααααα·ααααα»ααααααααΆα (αααα·ααα ααΈααααααααααααΈααααΆα) α¬ααααααα»ααααααααααα (αααα·αααΈααΎαααααααΈααααΆα)α αααααααΌαααΆαααααΎααααΆαα αα ααααααααΎαααααΉααα»αααΆααΈααααΆαα’αΆα ααΉαααΆααα·ααα ααααΆααααααΌααααααααααααΆααΆαααΆααα αααααααααΎαααααααΒ
α§ααΆα αααα
αααααααΆα’αααα αααα·α EURUSD ααα»αααααα·αααΆααααααα αα α»ααααααααΊαααααααααα·α α ααΌα αααα α’ααααααααααΆααααααΆαα·αααΆααααLimit (Limit Order)αα ααααα 1.08224 α αααααΆααααααΆ α’ααααα·αα’αΊαααΌβ ααααα·αααΎαααααααΆαααααΆααα α»ααααααααααα·ααααα’αααα ααααΆα α¬ααΌααααΈααααΆαααΆααααα
- ααΆααααααΆααΆαααα Stop (Stop Order)α ααΊααΆααααα·ααααα·ααΆαααααα·α α¬ααααααααααααααααααα·αα αααααααααααααΆααααΆααααΆαα½αααΆαααΆααα ααα α αΎαααΎαααΏααΆααααΆα’αΆα ααΉααααααα·ααααΆααΆαααααααΆααααα ααΆβααααααβααΉαβαααα½αβαα βαααβαααβααΆβαααααβαααααΆααβαα·ααααΆααΆα αααβαα·ααααΆααΆαβααΉαβαααααΒ
α§ααΆα αααα
α’αααααΆααααΆααααααΆαα·αααΆαααα Stop αααααΆαα AUD/USD αα ααααα 0.7200α αααααΆααααααΆ α’αααααΉαααα AUD αααααααααααααααα· α αΎααα·α USD ααααα·αααΎα’ααααΆααααΌαααααΆαααααααΆαα AUD/USD ααααΆααα α»αααα 0.7200 α¬ααΆαααΆααααα
ααΆααααααΆααΆαααα Stop Limit (Stop Limit Order)α ααΊααΆααΆαααΆαααααααΆαα½ααααα αΌαααααΆ ααααααα»αααααα½αααΆαααΆααααααΆαα·αααΆαααα Limit (Limit Order) αα·αααΆααααααΆααΆαααα Stop (Stop Order) α αΎαααΆααΆααααααα»α MT5 ααα»αααααα
αααααααΌαααΆαααααΎααααΆαααα αααααααααααααΆαααΆααα ααααααααααααα (ααΆααααααΆαα·αααΆαααα Limit (Limit Order)) ααΌα ααααααααααααααΎαα ααααΆα (Desired Price)α¬ααααααααααΆααααααααΈαα»αααΉαα αΌααααα»αααΈααααΆααααααααααααααααα·α ααΌα ααααα’αααΈαααα’αααααααΌαααααΎααΊααααΌααααα αΆαα±αααααααααααΆααα α»α α¬ααααααΆααααΆααααααΆαα·αααααα·αααΆαααααααα (αααααααααα·α/ααα)α
ααΆαααβαααααΉαα
- ααΆαααΆαααααααΆααΆαααα Stop Limit (Buy Stop Limit/ Sell Stop Limit)α ααΆααααΌαααΆαααααΆααααΆααααααααααααα (Trigger price) αααα’αΆα α±ααααααα Buy limit/Sell Limit ααααΎααΆαα αΌαααΈααααΆα ααααα·αααΎααΆααΆααα ααααααααααααααα½ααΒ
- ααΆαααΆαααααααΆααΆαααα Stop Limit (Stop Limit Prices)α ααααΌαααΆαααααΆααααΆααΆααααααααααΎαα ααααΆα(Desired Price) ααΉααααα αΆααα ααΎαααααΆααΆαα½ααααααΆααααΈαααααααΆαααΆααα ααα Buy Stop Limitα ααΌα αααα Buy Limit/Sell Limit ααΉαααααΎααΆαα αΌααα ααΈααααΆααααα»ααααααααααααααααΊαααα»αααααα Stop Limit PriceαΒ
Buy Stop Limit
α§ααΆα ααααΒ
EURUSD αα αα α»ααααααααΊ 20 αα»ααααΆαα αααα½αααΏααΆααΆααΉαααΎαα‘αΎαααΎαααΈ 28 αα»ααααΆα ααα»αααααα½αααααΆαααααα αααα·ααααα»ααααααααΆαααΊ 25 αα»ααααΆαα αααα»αααααΆαααΆαααα ααΆααααααΆααΆαααα Stop Limit ααΆαααααΎαααααα’α αααα’αα»ααααΆαα±αααα½αααααααααααααααΈαα ααα»α α
- Buy limitα αααααΊααΆααααααα·ααααα ααααΆα αααα»αααααΈαααααΊ 25 αα»ααααΆαα
- Buy Stop-limitα αααααΊααΆααΆααααααΆαα·αααααα»ααα»ααααα αΆααααααΎα αα»αααααΆαααααααα‘αΎαααΎαααΈααααα·αααΆααααΆαααα½α αα ααΈαααααααααα $28α
αααααΊΒ
- ααααααα αα α»αααααα 20$
- Buy limit 25$Β
- Buy Stop-limit 28$
Sell Stop-Limit
α§ααΆα αααα
αα·αα·αααα·αααΆαα αααΆααα’αΆαααααααα½αααΌααα ααΎαααααααΆα(SYMBOL: XAUUSD) ααααα αα α»ααααααααΆαααααα 55$ α αΎαααΆααααααΉαααΆααΉαααΎααα·ααααΆααΆαααααΆααα α»ααααααΆααααΌαααα ααααα·αααΎααΆααααααΎααΆαααΆαααααααΆααΆαααα sell-stop-limit αααααααα sell-stop limit αα 40$ αα·α sell limit 45$α ααΌα ααααααΆααααααΆαα αααααααααααα‘αΎαααα 40 αα»ααααΆα ααα sell limit αα 45 αα»ααααΆαααΉαααααΌαααΆαααααα·ααααα· α αΎααααα αΆαααΌα ααΆααααααΆαα·αααααα·αααΆαααααααα αα αΌααααααααααααα‘αααα 45 αα»ααααΆααα·αα αααααΊααΆαααααααααααααΆαααααααα·αααααΆααααααΌαααΆαααααα·ααααα·α
αααααΊαΒ
- ααααααα αα α»αααααα 55$
- Sell limit 45$Β
- Sell Stop-limit 40$
αα αααα»α Metal 5 Platform αααααΆαααααααα’αααα’αΆα αααααααΆααααααΆααΆαααα stop-limit order ααΌα ααΆααααα αΆαααΆααααααα
ααΆααααααΆαα·α Forex
Good Till Cancelled (GTC)
ααΆααααααΆαα·ααααα»αααααααααΌααα αΌααααααααααααα’αααα ααααΆαααΆαααααα α¬αα ααααααα’αααα αααα»αα αα(α¬αα·α) ααΆααααααΆαα·αααααα’αααα ααααααΆαααΆααααα αααα’αααααΊα’ααααααααααααααααααΆααα½αααΌααααααααα’ααα ααα»ααααααΆααααααΆααΆααααααΆαα·αααΆααααααΌα ααααα Swapping ααααΆααααααααα(ααΆααααααΆα’αααα αααΆαααΆααααα αααΎα)α
Good for the day (GFD)
ααΆααααααΆαα·αααααα»αααααααα α α»ααααα αααααααααα½αααΌα α αΎαα’αααα’αΆα ααααΆααααααΌααα αααααΎααα»ααααααααΌα ααΌαααΆααααααα
ααΆααα·αααΆααααααΆαα·α
ααΆααα·αααΆααααααΆαα·ααα½αα ααα½α (Partially Close)
αα αααα’ααααα·α/αααααΌααααααα αααα»ααααααααΆαα½α α αΎααααα’αααααΆααααααα·αααΆααααααΆαα·ααααα αα·ααα»αααΆααααααΆαα·ααααα αααα’αααα’αΆα ααααΌα ααΆααααα αΆαααΆααααααα
α§ααΆα ααα α’ααααα·α 0.14 XAUUSD α αΎααα·αααΆααααααΆα ααα½αβ 0.10 XAUUSD ααΌα ααααααΆααα½αααΌααααααααα’ααααα αααα ααα½α 0.04 ααα αα‘αΌαα
ααΆααα·αααΆααα·α αα·αααΆαααααααα»αααααααα½α Close By
αααααΊααΆααααααα’αααα αααα·αααΆαααΆαααααααΆααΆααααΆαααα αα·αααΆααα·ααααα»αααα αααΌα ααααΆ αα·ααααα»αααααααα½αα
α§ααΆα ααα α’ααααα·α XAUUSD α ααα½α0.60 α‘αΌαα·α α αΎαααα XAUUSD α ααα½α 0.30 α‘αΌαα·αα αα αααα’αααααααΎαααΎα βClose Byβ αααααΆααααααΆα’αααααΉααα·αααΆααααααΆαα·α αα·αααΆααααααΆαααα ααα½α 0.30 ααΆααα’αααα½αααααΆα ααΌα ααααα’αααααΉααα αααα ααα½α 0.30 α‘αΌαα·ααααα»αααΆααααααΆαα·α XAUUSDα
αααα ααΈααα ααΆαααΆαααΆαααααααΆααΈααααααααααααααΆαα·αααααααααΎαααααΆααααΆαααααααα αΆαα·αααααΌα ααΆααααα αΆαααΆααααααα
- ααΆαααααααααααα ααααα αα·αααΆααααααΆαααααααααααααααα·αα ααααα·αααααΆααα αααααααα ααααΆααΒ
- ααΆαααααααααααααΆααααα αα·αααΆααααααΆαααααααααααααααα·αα ααααα·αααΆαααα ααΎααααΈααΆαααααααααΆαααΆαααααααα’αΆα ααΎαααΆααΒ
α’αααααααααααααααΆαααααΎααααΆααα
ααΆαα·αααααα’αΆα ααααΎαααΎαααααα·ααααα·ααΆααα ααΆαααααααααααα½αααα ααααΆα ααααααΆααααααα αααααα½αααα ααΎαααΈααα ααΆααΆαααΆαααΆααααα½ααααα»αααΆαααααααααααααΆ αα·ααααααααα αα
|English Version|
The market can be unpredictable, and simply hoping for the best price isn’t always the most effective strategy. This is where understanding different order types comes in. MetaTrader 5 (MT5) offers various order types to suit your trading needs, such as market execution and pending orders (limit orders, stop orders, stop limit ordersβ¦) and so on which each display different usage in the market.
What is market execution?
Market Execution/Market Order: Executed immediately at the current market price. This is ideal when you prioritize entering a position quickly.
What is a Pending Order?
Pending Orders: a specific order with an anticipation of future market movements in mind, which will be executed automatically once it reaches the designed price action.
- Limit Order: an order placed at a minimum price to buy (below the market price) or a maximum price to sell (above the market price). This is when we are expecting a reversal when reaching the specific price we have set.Β
Example:
Imagine you want to buy EURUSD but think the current price is a bit high. You set a buy limit order at 1.08224. This tells your broker to only buy euros if the price falls to your desired level or even lower.
- Stop Order: buy or sell a currency pair once a specific price is reached, which we expect to continue its current trend. Like you want to buy when prices rise and sell when prices fall. It is similar to an arrow in that once it breaks the trendline, then the trend will continue.Β
Example:
You place a sell-stop order for AUD/USD at 0.7200. This means you instruct your broker to automatically sell AUD and buy USD only if the exchange rate for AUD/USD falls to 0.7200 or lower.
- Stop Limit: a combination of a stop order and limit order that is only available on the MT5 Platform.Β
This is used when once the price action reaches the trigger price (buy/sell stop limit), the desired price action/pending orders (buy/sell limit) you have set earlier will be automatically executed. So all you have to do is wait for the price to fall or go past the pending order (buy/sell limit).
Keyword:
- Buy Stop Limit/Sell Stop Limit: Also known as the trigger price, which activates the buy limit/sell limit orders at the stop limit price if the security’s price reaches it.
- Stop Limit Prices: Also known as the desired price, which is waiting for a signal when the price reaches the Buy Stop Limit price, then the Buy Limit/Sell Limit will be activated at the Stop Limit Price.Β
βBuy Stop Limitβ
Example:
The EURUSD is currently at $20. Traders believe it will rise above $28, but ideally want to buy at a lower price, like $25. In this situation, a stop-limit order is a good option. This allows them to set two price points:
- Buy limit: This is the desired purchase price, in this case, $25.
- Buy stop-limit: This is a backup buy order that triggers only if the price goes above a certain level, here set at $28.
Written in a simpler term:
- Current price: 20$
- Buy limit 25$Β
- Buy Stop-limit 28$
βSell Stop-Limitβ
Example:
The trader is interested in the gold price (SYMBOL: XAUUSD), which is currently at 55$ and he expects to see a downward trend for this pair. If he uses the sell-stop-limit order, set the sell-stop limit at 40$ and the sell limit 45$. So this means that once the price hits 40$, the sell limit at 45$ will be executed and wait as the pending order until the price reverses back to 45$. That is when the actual price action is executed.
Written in a simpler term:
- Current price: 55$
- Sell limit 45$Β
- Sell Stop-limit 40$
In the Metal 5 platform, here is how you can set the stop-limit order as shown below:
Forex Orders
Good Till Cancelled (GTC)
An order that remains active for a longer period until your desired price is reached or when you want to cancel your order. Anyhow, you are the one who decides your trading duration; however, the longer you wait, the higher the swapping price it will cost you.
Good for the day (GFD)
A day order which expires at the end of the trading day which you may change at the expiration option.
Closing Order
Partially Close
When you buy/sell the security at a specific price and you want to close some position out of the overall, you may adjust as shown below.
For instance, if you buy 0.14 XAUUSD and close position for 0.10 XAUUSD, the only position you have left is 0.04 Lot size.
Close By
This is when you want to close the position at the same time for both sell and buy positions in the same lot size.Β For instance, you buy XAUUSD for 0.60 lots and sell XAUUSD for 0.30 lots. When you choose βClose By,” this means that you will close the sell position and buy position at 0.30 lots. So you will have the remaining 0.30 lot buy position.Β
Besides, there are two other orders that the trader uses for risk mitigation, as shown below:
- Take Profit: Close position automatically at a desired profit level.Β
- Stop Loss: close position automatically at a loss-limiting level to minimize potential losses.Β
Benefits of using:
A trader may execute the right type of market order that aligns with their direction and desires. Plus, itβs very convenient for time-saving and cost-efficiency.