Forex Trading Orders

Market order
Market order means you will buy ask price which running at the time or sell in bid price which running at the time. For example you will buy GBP/USD pair and the running price at the market shows 1.8900/1.8904. It means, your broker want to buy GBP/USD from you at price 1.8900 and sell to you at 1.8904

Pending Order
Pending order is automatically order for opening Long/Short position only if the price you ordered before was reached. If your order has not been reached yet, then the order still active and waiting till it been reached. There are two kind of pending order: pending order stop and pending order limit.
Stop Order
If you want to buy at ‘above’ current price, then use Stop Order Buy and if you want to sell at ‘under’ current price, then use Stop Order Sell.
For example:
Current Ask Price is 1.0000 and you only want to buy (LONG) if the price move to 1.0050, then you could use Stop Order Buy
Current Bid Price is 1.0000 and you only want to sell (SHORT) if the price move to 0.0950, then you could use Stop Order Sell



Limit Order
If you want to buy at ‘under’ current price, then use Limit Order Buy and if you want to sell at ‘above’ current price, then use Limit Order Sell.
For example:
Current Ask Price is 1.0000 and you only want to buy (LONG) if the price move to 0.0950, then you could use Limit Order Buy
Current Bid Price is 1.0000 and you only want to sell (SHORT) if the price move to 1.0050, then you could use Limit Order Sell