The common types of orders used in forex trading are stop orders, buy/sell limits and market orders. As an investor depending on your position you choose the order that suits your appetite.
.Buy Stop – you can buy an order above the current market price
.Stop Entry Order – buy/ sell above/below at the current market price
.Sell Stop – trade order to a broker to trade once the price of an asset gets to a stated price or below.
.Market Execution – a trader agrees to execute a deal at price set by the broker.
.Buy Limit – is an order to buy at a stated price or below the current market price
.Sell Stop – is an order to sell once the price of the exchange rate reaches a stated price or beyond.