General What is the difference between Buy limit and Buy stop?

[beisong]

Often new traders confuse about Stop and Limit orders. So, what is the difference between buy limit and buy stop orders in Forex trading?s

In Forex, various types of orders allow you to more precisely inform your Forex broker how you would like to fill your trades. Stop and limit orders are very useful when you don’t have enough time to watch the market. Still, what is the Buy limit and Buy stop difference in Forex?



How to place a pending buy order?

• Buy limit: In case you want to buy at price below the market price, use this tool
• Buy stop: If you want to buy at a price above the current price, place a buy stop order

How to place a pending sell order?

• Sell limit: If you need to sell the currency pair when the price is above the market price, you will need this tool
• Sell stop: This tool will help you to sell at a price that is below the market price

 

[sophybtc]

very detailed explanation. well done and thanks for sharing!