Limit forex trading session timess (Limit) can forextradingtime valid for a specific period of time (such as a day or a month), or valid until cancelled (GTC) Valid for the day Limit orders are valid for the rest of the trading day, unless they are executed before the end of the trading day GTC Limit orders remain valid until filled, unless the account holder issues an order to cancel the order Limit orders: buy or sell orders that cashback forex be activated when the current exchange rate crosses some predetermined forextradingmarket level When the rate falls below a predetermined limit, a trader may place a buy limit order. Conversely, when the rate rises above a predetermined limit, a trader may place a sell limit order, which is immediately executed at the current rate and is called a market order. A trailing stop is an order placed at the point of profit-taking. This strategy helps to lock in profits as the position becomes more profitable. If the base currency rate breaks the limit order limit, the position is automatically sold and the stop order is no longer needed, so the stop order is cancelled. Conversely, if the rate falls to the stop order trigger level, the position is closed and the limit order is no longer needed. If you have a short position, you can place a stop loss order above the current price level, which will be activated once the sellers offer price rises above the trigger level. The problem with stop loss orders is that in volatile markets, rates can break through the stop loss trigger level, making it impossible to place a stop loss order at a precise price. If you have a long position, you can set up a stop loss order below the current rate. Once the market price falls below the stop loss trigger, the order will be activated and your long position will be automatically closed. Take Profit Order (TPO): As opposed to a stop loss order (i.e., a limit on earnings) TPO means that once the current rate crosses the set limit, the position will be closed. order will be set below the current rate, and vice versa for long positions For short positions, the stop order will be set above the market spread, and the limit order will be set below the market spread If the rate rises to the stop loss trigger level, the position will be closed and the limit order will be cancelled If the rate falls to the limit order trigger level, the limit order will be activated, the short position will be closed by repurchase, and the stop order will be cancelled One order is valid, then the other order will be cancelled Cancellation (OCO): This is a combination of a stop order and a limit order (or two limit orders) set up at both ends of the spread. When one order is triggered, the other order is terminated