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Random article: Forex Orders: Take Profit, Stop Loss and Others
Market Order – an order for purchase-sale of currency pair at present price. Execution by broker of this order leads to an immediate opening of trade position. Currency is bought at ASK price, and is sold at BID price. This is the fastest way to open position, but it should be noted that under high volatility “Market” order is not the best possible option. Pending Order – an order for the future purchase-sale of currency pair at specified price. It is used for opening trading position on condition that future quotes are equal to preset level. Its advantage is that broker will fulfill it regardless of connection with trading terminal and server. In this case trader does not have to stick to market all the time. Broker can remove order only if margin is insufficient. In other cases order is effective until it is fulfilled, expired or canceled by trader.
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Popular article: New Housing Price Index
New Housing Price Index (NHPI) – this economic indicator enables tracing change in prices for building new houses in Canada. NHPI reflects fluctuation dynamic of prices of transactions between contractor and purchaser in the moment of buying of a new house. The index helps to trace changes in price for similar houses. Prices submitted by vendors (or building companies) serve for measurement of this figure. Those market price do not account for taxes or prices for supplementary goods and services. Index publication has a limited impact on the market. Its growth is favorable for consolidation of national currency.
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Forex encyclopedia “Clever FX” is the unique service created by FreshForex to introduce world of Forex to traders. The main purpose is to share knowledge of experienced traders with novice traders in simple and convenient form. Every trader will be able to learn something new here. If you are a professional trader, we invite you to write an article for “Clever FX” and get reward. Let's write Forex history together!
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