What are the types of orders?

  • Day Order: A Day order is valid for a single day. If not executed, the trading system cancels it automatically.
  • Immediate or Cancelled (IOC): User is allowed to buy/sell a contract as soon as the order is released into the trading system. An unmatched order will be immediately cancelled.
  • Limit Order: It is an order to buy or sell a contract at a specified price. The order gets executed only at this specified limit price or at a better price than that.
  • Market Order: A market order is an order to buy or sell a contract at the best bid/offer price currently available in the market. Price is not specified at the time of placing this order.
  • Stop-Loss order(SL): A stop loss is an order to buy (or sell) a security once the price of the security climbed above (or dropped below) a trigger price. In this case we can choose 2 prices Stop loss price and Trigger Price.

•   Stop-Loss  Market order(SLM): A stop loss is an order to buy (or sell) a security once the price of the                           security  climbed. In this case we can choose only Trigger Price.

 

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