Forex order types sometimes seem confusing for forex beginners. To lighten newbies' life we designed an easy understandable Infographics helping to sort out the structure and features of order types in Meta Trader 4.

1. OrderExecuonPrices
Theseconbelowshowswhichtypesofpricesyoushouldkeepinmind
whenyouaregoingtoopen/closeposionsorplaceapending
opening/closingorders
Ask
Bid
Ask
Bid
Ask
Bid
Bid
Bid
Bid
Bid
Bid
Bid
Bid
Bid
Bid
Bid
Bid
Bid
Ask
Ask
Ask
Ask
Ask
Ask
Instantexecution TakeProt/StopLoss
BuyPosition
SellPosition
Pendingorder TakeProt/StopLoss
BuyStop
SellStop
BuyLimitBuyLimit
SellLimit
Limit:
BuyLimit
SellLimit
TakeProt-
Pendingorder
Positionclosing
orders
Stop:
BuyStop
SellStop
StopLoss
-Trailing
stopLoss
Pendingorder
Positionclosing
orders
OrderTypesClassifiedBy
TakePro t-orderspecifyingtheexactratewhere
toclosecurrentpositionwithaprot.
CloseBuyposition CloseSellposition
StopLoss-orderthatclosestradingpositionwiththeintentof
cuttingyourlosseswhenthemarketmovesagainstyou.
TrailingStopLoss-orderthatenablesatradeto
remainopenandcontinuetoprotaslongasthe
priceismovingintherightdirection,butclosesthe
tradeifthepricechangesdirectionbyaspecied
numberofpoints.Itautomaticallyfollowsthemarket
andmandmovesstoplossordersintheprotabledirection.
PosionClosingOrders
StopLoss
TakeProfit
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TakeProfit
StopLoss
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BuyStop-isanorderyou
placeabovethecurrent
marketpricetoopena“buy
position”whenyoubelievethat
thepricewilltouchtheorder
levelandgoupafterthat.
SSellStop-isanorderyou
placebelowthecurrent
marketpricetoopena“sell
position”whenyoubelievethat
pricewilltouchtheorderlevel
andgodownafterthat.
PendingOrderTypes
BuyLimit-isanorderyou
placebelowthecurrentmarket
pricetoopena“buyposition”
whenyoubelievethattheprice
willtouchtheorderleveland
goupafterthat.
SSellLimit-isanorderyou
placeabovethecurrent
marketpricetoopena“sell
position”whenyoubelievethat
thepricewilltouchtheorder
levelandgodownafterthat.
OCO(Onecancelother)-yousettwoorders,forexamplebuy
andsellstop.Whenoneorderisexecutedtheotheris
automaticallycanceled.
BuyStop
SellStop
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InstantExecuon
Types
Sellorder-selling
atmarketprice
Buyorder-buying
atmarketprice
Sell Buy
Posionopenorders
Instantexecuon Pendingorder
Anorderthatyour
forexbrokerexecutes
immediatelyatthe
currentpricethatyou
haverequested.
Isaninstruction
toopenaposition
inthefuturewhenthe
marketreachesthe
requestedorderlevel.
TypesofForexOrders
TheinfographicswasdesignedbyPaxForextohelpforexnewbies
tounderstandallfeaturesofordertypesinMT4
Designedby