Glossary

Back
Limit Order
This is an opportunity to open up an order to the broker for a transaction at a price the price chart has not yet reached. It may be present both above and below. In any case, you do not have to sit in front of a monitor in anticipation of the desired level.You just need to set the level of the "limit order". As soon as the price reaches a level that you specified, the deal opens. In fact, a limit order and a pending order (see) amount to the same thing. Please note that if during the same trading day (session - see) price has not reached your limit order, the broker will simply remove it. On the next trading day you will be able to re-establish a pending order. To set the pending order in your terminal (see), you need to click on the "New Order" on the top panel over the price chart. There, in the "Type" section, don't choose "instant execution", choose "pending order". Now again you will have to select what type of pending order you want to set up. If you want to make a purchase transaction, you are offered two options: «Buy stop» exhibited above the price that you see now, and «Buy limit» start buying from a level below the current price. If you want to make a deal for sale, you can choose either «Sell stop», if you need to deal with the level opened, below that there is now, or «Sell limit», if you want to start selling at the quotation (see .) above the present. After you have selected the proper type you order, set the price at which the transaction is to open and click “set order”.

Back to list

Citadel of Trading