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Royal Forex - Types of Orders

Following are typical FX orders that are executed every day by clients of Forex Capital Management:

Entry Order:

An Entry Order is executed when a designated price threshold is reached or broken. These orders are executed under the direct supervision of the dealing desk and remain in effect until canceled by the client.
Limit Entry Order:
A Limit Entry Order is executed when the exchange rate reaches but does not break a preset value. A Limit Entry Order is placed when the trader believes that, once a currency has touched a certain level, it will move in the direction opposite of its previous momentum.
Limit Order:
A Limit Order is a Limit Entry Order pegged to a specific price for the purpose of locking in gains on a current position. Limit Orders placed on Buy positions are Limit Entry Orders to Sell that position. A Stop Limit order will remain in effect until the position is liquidated, or the client cancels the Stop Limit order.
Market Order:
Market Orders are filled immediately to buy or sell at the current rate quotation. Forex Capital Management guarantees immediate fills on every market order up to US$1 million. If Forex Capital Management is unable to secure the order at the specified rate, new pricing representing the current market rate will be sent to the client. Under no circumstances will an order be filled without client approval.
Stop Entry Order:
A Stop Entry Order is executed when the rate of exchange breaks a preset level. This kind of order is placed when the trader believes that, when the market reaches the preset level, rates will continue to trend in the same direction.
Stop-Loss Orders:
Stop-Loss Orders are Entry Orders linked to a certain position for the purpose of preventing the position from accumulating additional losses. Stop-Loss Orders that are placed on a Buy position are Stop Entry Orders to Sell that position. A Stop-Loss Order will remain in effect until the position is liquidated, or the client cancels the Stop-Loss Order.

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