Good 'Till Canceled (GTC) Orders: GTC orders remain open until they are executed or manually canceled by the trader. They are commonly used for setting take-profit and stop-loss levels based on Forex signals that have a longer time horizon.
Day Orders: Day orders are valid only during the trading day on which they are placed. They expire at the end of the trading session if not executed. Traders use day orders when they want to ensure that the order is not carried over to the next trading day.
Immediate or Cancel (IOC) Orders: An IOC order is executed as soon as it is placed, but any part of the order that cannot be filled immediately is canceled. This is used when a trader wants an order executed immediately, but partial fills are acceptable.
- Trend-following indicators serve the primary purpose of helping traders identify and confirm existing market trends. These indicators are designed to analyze historical and real-time price data to determine whether a financial instrument is in an uptrend, downtrend, or moving sideways. The key purposes of trend-following indicators are as follows:
Identifying Trading indicator : Trend-following indicators are used to determine the direction of the prevailing trend in the market. They can help traders recognize whether an asset's price is generally moving up (bullish trend), down (bearish trend), or remaining relatively stable (sideways or ranging market).
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