William Kenneth Smith#84

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What are market, limit, and stop orders in forex?

A market order executes immediately at the best available price. It is the simplest order type but can result in slippage. A limit order specifies the exact price at which a trader wants to enter or exit; the order executes only if the market reaches that price or better. A stop order triggers a market order once the price hits a predetermined level, often used for stop-loss or breakout strategies. Each order type serves different purposes: market orders for speed, limit orders for precision, and stop orders for risk management. Successful traders often combine them to optimize entries and exits.