Introduction of 6 ways to place orders and trading varieties of foreign exchange

Before reading the content below, you must first install the MT4 trading software.

After opening MT4, you will see many trading varieties in the list of symbol on the left, Different traders have symbol.

Trading symbol are roughly divided into the following types:

(1) .Foreign exchange: For example, EURUSD can be understood as the value of US dollars converted from 1 euro. For example, 1.13212 means that 1 euro can be exchanged for 1.13212 US dollars.

(2). Energy: Similar to foreign exchange, the first three letters represent the variety and the last three letters generally represent the currency of valuation, such as BBRUSD (Brent Oil U.S. Dollar), etc.

(3). Commodities: Same as above, XAUUSD, XAGUSD, etc.

(4). Stock index: all abbreviations, different platforms may be called slightly different, such as US30, US100, US500

Six ways to place an order (take EURUSD as an example, more means bullish, the current price is higher than the order transaction price, that is, the price rises to make money, empty means bearish, the current price is lower than the order transaction price, the lower the price, the more profitable), it is recommended that you use simulation Try the account a few more times.

Buy at Market(The same Sell at Market ):

The four ways to place an order mentioned below are pending orders, which means that the current price has not reached this price, and the order is only filled at this price.

Buy Stop

Select “Pending Order Transaction” in the ” Type”, the type is “Buy Stop”, and enter the price of the pending order in the “Price” field. For example, the current price in Europe and America is 1.13202. To place a buy stop order, you need to enter 1.13202+20 points in the price column, which is a price above 1.13222.

After the pending order is successful, as shown in the figure below, the type is buystop. A buy stop pending order must be an order that appears above the current price. When the price rises to the pending order price of this order, the order will be filled.

Sell Limit

It is similar to buy stop, except that it is a short order. When the current price reaches this price, the transaction is also a short order.

Buy Limit

Contrary to buy stop, the pending order is below the current price, and the transaction is executed when the price drops to this pending order price.

Sell Stop

Contrary to sell limit, the transaction is done when the price drops to the pending unit price

These kinds of order placement methods, especially pending orders, must be tried several times and mastered well.

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