When you start participating in the forex market, you will use many different types of orders in trading. In this article, EX Trading will guide you in detail about order types. How to place order in Exness easily and effectively. As well as some notes for successful trading on Exness.

What types of orders does Exness have?

An order is an action by a trader to buy or sell a financial instrument on the market. There are different types of orders on Exness. Depending on your investment goals and trading style, use the appropriate order type.

Market orders on Exness

Market orders are the most popular type of orders today. Allows you to buy or sell a financial instrument instantly at the current market price. You can place a market order by pressing the “Buy” or “Sell” button at the bottom corner of the trading screen.

Market orders have the advantage of being executed quickly and without price slippage. However, the disadvantage is that the order entry price cannot be controlled.

Pending order

A pending order is a type of order that allows you to reserve a desired price to buy or sell a financial instrument when the price reaches that level. You can place a pending order by clicking the “Set order” button at the bottom corner of the trading screen. Then select the desired pending order type.

There are four types of pending orders on Exness, which are:

• Buy Limit Order: is a type of order that allows you to buy a financial instrument when the price is lower than the current price.
• Sell ​​Limit Order: is a type of order that allows you to sell a financial instrument when the price is higher than the current price.
• Buy Stop order: this is a type of order that allows you to buy a financial instrument when the price is higher than the current price.
• Sell ​​Stop order: is a type of order that allows you to sell a financial instrument when the price is lower than the current price.

Pending orders have the advantage of allowing you to control the order entry price according to your trading strategy but have the disadvantage of being subject to price slippage when the market fluctuates strongly.

Take profit order

A profit order is a type of order that allows you to set a desired price in advance to close the order when the desired profit level has been achieved. You can set a take profit order when placing or modifying an order, by entering the desired price or profit in the TP box.

Take-profit orders have the advantage of helping you preserve profits and avoid being greedy, but have the disadvantage of potentially missing out on opportunities to make more profits when the market continues to move in a favorable direction.

Stop loss order

Stop-loss order is a type of order that allows you to set a desired price in advance to close the order when you have endured the maximum loss. You can set a stop loss when placing or modifying an order, by entering the desired price or risk in the SL box.

A stop-loss order has the advantage of helping you minimize risk and avoid being too late but has the disadvantage of being able to close the order early when the market fluctuates temporarily.

Buy stop order

A buy-stop order is a type of order that allows you to automatically adjust the stop-loss level according to the favorable direction of the market. You can set a buy-stop order when editing the order. By choosing the desired distance between the current price and the stop loss level.

Buy-stop orders have the advantage of helping you optimize profits and protect capital. However, orders have the disadvantage that they only work when you are online and can be closed when the market fluctuates rapidly.

>>>See more: Open Exness Account: Latest guide for new traders

Instructions on how to place order in Exness are very easy to understand

After understanding the types of orders on Exness, you will need to know how to place orders on Exness to trade. You can trade on Exness using many different platforms, such as MetaTrader 4, MetaTrader 5, Exness Terminal, Exness Trade app…

In this section, EX Trading will guide you on how to place order in Exness using the Exness Trade app. A convenient and modern trading platform for smartphones.

To place an order on the Exness Trade app, you need to follow these steps:

Step 1: Download and install the Exness Trade app from Google Play or App Store.

Step 2: Log in to your trading account using your email and password.

Step 3: Select a trading instrument from the “Markets” or “Favorites” section.

Step 4: Click the “Buy” or “Sell” button to open the order window.

Step 5: Set trading volume, order type, and order entry price, take profit and stop loss level (if any).

Step 6: Click the “Confirm” button to place the order.

How to close orders on Exness

Close a basic order on Exness

This is the simplest and fastest way to close an order on Exness. You can operate as follows:

• Step 1: Select the “Transaction” section in the bottom corner of the screen interface.
• Step 2: Select the order you want to close from the list of open orders.
• Step 3: Click the “Close” button to close the order.

Close part of the order

This allows you to partially close the trading volume of an order. At the same time, retain the remainder until the market moves in a more favorable direction. You can perform the operation according to the steps as instructed below:

Step 1: Select “Transaction” in the bottom corner of the interface.

Step 2: Select the order you want to partially close from the list of open orders.

Step 3: Click the “Edit” button to open the order editing window.

Step 4: Enter the volume of the trade you want to close in the “Volume” box.

Step 5: Click the “Close” button to partially close the order.

Instructions on how to play Exness with guaranteed effectiveness

To successfully trade forex on Exness, you need to have a suitable and clear trading strategy. Tailored to your trading style, experience level, and goals. In addition, you also need to follow some basic principles:

• Learn and supplement knowledge about the market. The most optimal trading tools and trading platforms.
• Analyze technical and fundamental analysis before placing an order. To determine trends, entry, and exit points of the market.
• Set take profit and stop loss levels for each order, to preserve capital and minimize risk.
• Manage your capital properly, do not trade too high compared to the amount of money in your account.
• Control your emotions, don’t be too greedy, afraid, confused, or angry when trading.

Hopefully, this article has helped you better understand how to place order in Exness, as well as how to play Exness effectively. Through this, you can gain more knowledge about types of orders. From there, come up with the most effective trading strategy. Besides, you can also use Exness VPS service to improve trading performance. And don’t forget to visit EX Trading regularly to update the latest information related to Exness!

>>>See more: Exness Trading discovers the best trading platform

FAQ

What is a market order?

Market orders are the most popular type of orders today. Allows you to buy or sell a financial instrument instantly at the current market price. This type of order is executed quickly and without price slippage.

What is a buy-stop order?

A Trailing Stop order is a type of order that allows you to automatically adjust the stop loss level according to the favorable direction of the market. This type of order can help you optimize profits and protect capital.

How to play Exness guaranteed to be effective?

To play Exness effectively, you need to follow some basic principles. For example, always learning and updating my knowledge about markets and trading tools. Analyze technical and fundamental analysis before placing an order. Set take profit and stop loss levels, and manage capital appropriately.