Hey guys, It’s Shoaib here from FxForever and today in this video I will explain to you what is Take Profit and Stop Loss and What is Pending Order, Market Execution and Trailing Stop in Forex Trading?
MUST WATCH: STOP LOSS STRATEGY
What is a Pending Order?
A pending order in Forex Trading is actually an order that is not yet executed or placed, or in other words, not yet becoming a trade. It can, for example, be an order that states that you do not want to buy before the price of a financial instrument reach a certain point.
What is a Trailing Stop?
A trailing stop in Forex Trading allows our positions to continue to gain green pips when the position direction is moving towards our favor but must be closed our positions itself when the market price suddenly starts moving against to our strategies with a specified distance or pips.
What is Take Profit and Stop Loss?
The Take Profit and Stop Losses are the great strategies to protect forex traders positions from unnecessary financial or big loss risk. Stop losses and take profit levels are both works automatically, so it means, you don’t need to seat in front of your computer/laptop to close your positions manually.
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