What are buy/sell limit and buy/sell stop orders?

buy/sell limit order is an instruction to deal if the price moves to a more favorable level than where it’s in the market now.

That’s why these orders are sometimes called improvement orders.

A limit order is a request to buy at a price lower than the current price or request to sell at a price higher than the current price.

If the current offer in GBPUSD is 1.61086, you might leave a limit order to buy at 1.61070.

If the current bid in GBPUSD is 1.61086, you might leave a limit order to sell at 1.61099.

buy/sell stop order is an instruction to deal if the price moves to a less favorable level than where it’s in the market now (remember: it’s less favorable to buy at higher prices and to sell at lower prices).

A stop order is a request to buy at a price higher than the current price or a request to sell at a price lower than the current price.

If the current price of spot EURUSD is 1.38985, you might leave a stop order to buy at 1.38998.

If the current price of spot EURUSD is 1.38985, you might leave a stop order to sell at 1.38975.

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