Technical Definitions

Trading Platform
A trading platform is, along with the charts, one of the most important tools that a trader will be
using while trading on the Forex market. By definition, a trading platform is an exchange account
where you can buy and sell a currency.


Entry Stop
An entry stop is executed when the exchange rate breaks through a specific level. The client placing
a stop entry order believes that when the market’s momentum breaks through a specified level, the
rate will continue in that direction. The execution of a stop entry order may involve a limited degree
of slippage, usually two pips or less.


Entry Limit
An entry limit is executed when the exchange rate touches (not breaks) a specific level. The client
placing a limit entry order believes that after touching a specific level, the rate will bounce in
the opposite direction of its previous momentum. Limit entry orders are always executed at the
specified level


Types of Forex Orders


Market Order 
An order where you can buy or sell a currency pair at the market price the moment
that the order is processed.
Example: If you are looking to place an order for JPY when the dealing price is 104.00/05, a
market order will request to buy JPY at 104.00 or will request to sell JPY at 104.05.
Entry order – An order where you can buy or sell a currency pair when it reaches a certain price
target. In theory, this can be any price. You can set an entry order for the low price of a time period
or the high price of a time period.
“I want to buy this currency pair at a certain price, if it never reaches that price, I don’t want to
purchase the pair”.
The entry order allows you to choose a price and place an order to buy at that price


Stop Order 
An order that becomes a market order when a particular price level is reached and
broken. A stop order is placed below the current market value of that currency.


Limit Order
 An order that becomes a market order when a particular price level is reached. A
limit order is placed above the current market value of that currenc


OCO Order 
 One Cancels Other. An order placed so as to take advantage of price movement,
which consists of both a Stop and a Limit price. Once one level is reached, one half of the order
will be executed (either Stop or Limit) and the remaining order canceled (either Stop or Limit). This
type of order would close your position if the market moved to either the stop rate or the limit rate,
thereby closing your trade, and, at the same time, canceling the other entry order.






If Done Order 
If Done Orders are supplementary orders whose placement in the market is
contingent upon the execution of the order to which it is associated.