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What is a Pending Order in Forex

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by , 03-29-2019 at 12:30 PM (259 Views)
When we first start trading Forex, we most often play what is known as a “market order” to get involved. You simply click the button to buy or sell and get involved. The market order tells the broker that you want to get involved to the best price possible, or what is known as the “market price.” There is no guarantee that you will get the price that you see on the chart or order window, but as Forex is extraordinarily liquid, most of the time it works out.

Pending orders

Pending orders in Forex, or any other market for that matter are a set of instructions that you give your broker on entering or exiting a position. Sometimes with more complex platforms, you can have multiple actions in the same order. At its most basic level, you are looking at a scenario where you are telling the market you wish to get in or out of a position at a specific price. If the market does not reach that price, then nothing happens. There are multiple types of orders but will take a look at the most basic ones that you are most likely to find.


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