#wetradefx (Currency Traders Club) teaches how to place orders effectively. We rely on orders to take advantage of price movements when they`re not able to personally monitor the market. And also to protect themselves from adverse price movements. The two main types of orders are limit orders, used to buy or sell rates more favorable than current market prices, and stop-loss orders, which are used to buy or sell at worse rates than prevailing levels. The key difference between the two types is that we generally want our limit orders filled. But we don`t want our stop-loss orders to be triggered. That`s because limit orders are used to take profit and enter positions (with nobody likes). The catch here is that markets have penchant for going after stop-loss orders and shying away from limit orders in the routine noise of daily fluctuations.
#wetradefx (Currency Traders Club) deciding how to place orders effectively is definitely more art than science. And even the most experienced currency traders continually grapple with the question of where to place their orders.