Market Execution vs Pending XAUUSD Order
There are different types of xauusd orders which a trader can use to trade in XAUUSD.
The most important thing to remember about gold trade orders is this: Always understand the xauusd orders you place when xauusd. Never place a xauusd order which you as a trader are not entirely knowledgeable about. Below are the some basic definitions and explanations of the commonly used xauusd orders - types of xauusd orders explained:
Gold Market Execution Orders and XAUUSD Pending Orders
Market Execution XAUUSD Order
This is the most basic type of xauusd order, Market Execution Order is used to buy or sell at the current ask or bid xauusd quote gold trading price. This Market Execution Order refers to the quoted gold price that pops up & is shown on your gold trading platform.
This type of xauusd order - Market Execution Order - is used for buying or selling at the current price xauusd quote in XAUUSD, the execution of this xauusd order is instant. The minute you want to enter a position you can buy & sell the gold at a click of a button key using a xauusd Market Execution Order - also known as a Market Order or Market Instant Execution Order.
Pending Gold Orders
These are xauusd orders used to open a new xauusd trade position after the xauusd market reaches a gold trading price specified by the trader.
XAUUSD Pending Orders are used to buy or sell a xauusd when the xauusd instrument attains a certain gold trading price target.
When a specific gold price level is reached or broken then a xauusd Pending XAUUSD Order is executed.
These XAUUSD Pending Orders are used to enter a xauusd trade at a specified price level. It's almost impossible to monitor the xauusd market every second & this is why a Pending XAUUSD Order can be useful when trading xauusd. If you feel the xauusd market might take a certain action, such as break through a particular gold trading price level that it has been touching but it has not been able to break, you would want to use an Entry Limit Gold Order - XAUUSD Pending Gold Order. Once the xauusd market crosses your specified level, your entry limit gold trading order is executed.
There are two types of XAUUSD Pending Gold Orders - Entry Limit XAUUSD Order & Entry Stop XAUUSD Order.
These Pending XAUUSD Orders are also referred to as Entry Limit XAUUSD Orders or Entry Stop XAUUSD Orders.
Gold Pending Order
An order to buy or sell at a particular limit.
An Entry Limit Gold Order - XAUUSD Pending Order can be used to buy below the current gold price or sell above the current gold trading price.
When buying, entry limit xauusd order is executed when the price falls to your limit level gold trading price.
When selling, entry limit xauusd order is executed when the price rises to your limit level gold trading price.
These Entry Limit Gold Order - XAUUSD Pending Orders are placed by traders when they expect the xauusd market to bounce back after reaching the gold trading price level at which the entry limit xauusd order was placed.
- Buy Limit Gold Order - XAUUSD Pending OrderSpecifies to buy at a level below the current gold market price
- Sell Limit Gold Order - XAUUSD Pending OrderSpecifies to sell at a level above the current gold market price
Entry Stop XAUUSD Order
An entry stop order is an order to buy above current gold price or to sell below the current gold trading price.
When buying, entry stop order pending xauusd order is executed as the xauusd market goes upward and hits buy stop level.
When selling, entry stop pending order pending xauusd order is executed as the xauusd market goes down and hits the sell stop level.
- Buy Stop Gold Order - Pending XAUUSD OrderSpecifies to buy at a level above current market gold trading price.
- Sell Stop Gold Order - Pending XAUUSD OrderSpecifies to sell at a level below the current market gold trading price.
