Types of Orders in XAUUSD Trading Tutorial
What are the Types of XAUUSD Orders?
- Gold Trading Market Order
XAUUSD Trading Market Order is the most basic type of xauusd order, xauusd market order is used to buy or sell at the current gold price. This refers to the quoted gold price which pops up on your xauusd trading platform.
Market Order type of xauusd order is used for buying or selling according to the present gold price quote - the execution of market order is instant. The minute you want to enter a xauusd trading position you can buy and sell at a click of a button key using a gold market order.
- Buy Limit XAUUSD Order Specifies to buy at a level below the current gold market price
When buying, xauusd pending buy limit order is executed when the price falls to your limit gold price quote region.
- Sell Limit XAUUSD Order Specifies to sell at a level above the current market gold price
When selling, xauusd pending sell limit order is executed when the price rises to your limit gold price quote region.
- Buy Stop Gold Order Specifies to buy at a level above the current gold price.
When buying, a pending buy stop order is executed as the gold market goes upward and hits the buy stop gold price quote region.
- Sell Stop XAUUSD Order Specifies to sell at a level below the current gold price.
When selling, a pending sell stop order is executed as the gold price goes down and hits the sell stop gold price quote region.
How to Place Buy Stop Gold Order & Sell Stop Gold Order in MetaTrader 4 - Gold Pending Order in MT4
