buy limit meaning in forex, all types orders explained

 Hey guys, welcome to this platform! Today, let's dive into the different types of orders you can place in trading. 

It's essential to understand these because they will help you navigate the market better. Previously, I shared how to join MT5 and use it effectively, and if you haven't checked out that lecture, 

I highly recommend it—I'll link it in the description for your convenience.

All orders types 

So, we have explained all orders types in forex and crypto market: Buy, Sell, Buy Limit, Buy Stop, Sell Limit, and Sell Stop. Let’s break them down:

**Buy and Sell Orders**: 

These are straightforward; when you want to buy or sell in the market, you execute these orders directly.

 **Buy Limit and Buy Stop**: 

These are a bit more nuanced. A Buy Limit order lets you set a price lower than the market price to buy when the market hits that lower price. 

Conversely, a Buy Stop order is placed above the current market price, and it triggers a buy when the price breaks that level.

**Sell Limit and Sell Stop**:

 Similarly, a Sell Limit order is set above the market price, waiting for the market to reach that price before executing the sell.

 Meanwhile, a Sell Stop order is below the current market price and sells once the market falls to that level.

Now, to truly understand how to use these orders, I’ll take you through the process using the MT5 platform. 

Remember, it's crucial to set your lot size before executing any trades. If you’re unsure about lot sizes, I have a video on that, too, in my basic playlist.

For practical usage, when you're ready to place an order, simply click on the appropriate option in the MT5 interface.

 If you want to set a Buy Limit, drag the marker to your desired price below the current market level, and it will be set to buy automatically when the market reaches that point. Conversely, for a Buy Stop, you would drag it above the current market price.

The same applies for Sell orders: you set your Sell Limit above the current market level and your Sell Stop below. This way, you can automate your trades based on market movements.

I hope this explanation makes these concepts clearer. Remember, these basics are what you build upon as you advance in trading, and I have more in-depth courses planned as you progress. Don't forget to check out my earlier videos for a solid foundation!

Happy trading!