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