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1.4 Types of Forex Orders 外汇订单类型

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Forex Orders

The term “order” refers to how you will enter or exit a trade. Here we discuss the different types of forex orders that can be placed into the forex market.

Be sure that you know which types of orders your broker accepts. Different brokers accept different types of forex orders.

There are some basic order types that all brokers provide and some others that sound weird.

Forex Order Types

Market order

A market order is an order to buy or sell at the best available price.

For example, the bid price for EUR/USD is currently at 1.2140 and the ask price is at 1.2142. If you wanted to buy EUR/USD at market, then it would be sold to you at the ask price of 1.2142. You would click buy and your trading platform would instantly execute a buy order at that exact price.

If you ever shop on Amazon.com, it’s kinda like using their 1-Click ordering. You like the current price, you click once and it’s yours! The only difference is you are buying or selling one currency against another currency instead of buying a Justin Bieber CD.

Limit Entry Order

A limit entry is an order placed to either buy below the market or sell above the market at a certain price.

For example, EUR/USD is currently trading at 1.2050. You want to go short if the price reaches 1.2070. You can either sit in front of your monitor and wait for it to hit 1.2070 (at which point you would click a sell market order), or you can set a sell limit order at 1.2070 (then you could walk away from your computer to attend your ballroom dancing class).

If the price goes up to 1.2070, your trading platform will automatically execute a sell order at the best available price.

You use this type of entry order when you believe price will reverse upon hitting the price you specified!

Stop-Entry Order

A stop-entry order is an order placed to buy above the market or sell below the market at a certain price.

For example, GBP/USD is currently trading at 1.5050 and is heading upward. You believe that price will continue in this direction if it hits 1.5060. You can do one of the following to play this belief: sit in front of your computer and buy at market when it hits 1.5060 OR set a stop-entry order at 1.5060. You use stop-entry orders when you feel that price will move in one direction!

Stop-Loss Order

A stop-loss order is a type of order linked to a trade for the purpose of preventing additional losses if price goes against you. REMEMBER THIS TYPE OF ORDER. A stop-loss order remains in effect until the position is liquidated or you cancel the stop-loss order.

For example, you went long (buy) EUR/USD at 1.2230. To limit your maximum loss, you set a stop-loss order at 1.2200. This means if you were dead wrong and EUR/USD drops to 1.2200 instead of moving up, your trading platform would automatically execute a sell order at 1.2200 the best available price and close out your position for a 30-pip loss (eww!).

Stop-losses are extremely useful if you don’t want to sit in front of your monitor all day worried that you will lose all your money. You can simply set a stop-loss order on any open positions so you won’t miss your basket weaving class or elephant polo game.

Trailing Stop

A trailing stop is a type of stop-loss order attached to a trade that moves as price fluctuates.

Let’s say that you’ve decided to short USD/JPY at 90.80, with a trailing stop of 20 pips. This means that originally, your stop loss is at 91.00. If the price goes down and hits 90.60, your trailing stop would move down to 90.80 (or breakeven).

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Just remember though, that your stop will STAY at this new price level. It will not widen if market goes higher against you. Going back to the example, with a trailing stop of 20 pips, if USD/JPY hits 90.40, then your stop would move to 90.60 (or lock in 20 pips profit).

Your trade will remain open as long as price does not move against you by 20 pips. Once the market price hits your trailing stop price, a market order to close your position at the best available price will be sent and your position will be closed.

Weird Forex Orders

“Can I order a Grande extra hot soy with extra foam, extra hot split quad shot with a half squirt of sugar-free white chocolate and a half squirt of sugar-free cinnamon, a half packet of Splenda and put that in a Venti cup and fill up the “room” with extra whipped cream with caramel and chocolate sauce drizzled on top?”

Ooops, wrong weird order.

Good ‘Till Cancelled (GTC)

A GTC order remains active in the market until you decide to cancel it. Your broker will not cancel the order at any time. Therefore, it is your responsibility to remember that you have the order scheduled.

Good for the Day (GFD)

A GFD order remains active in the market until the end of the trading day. Because foreign exchange is a 24-hour market, this usually means 5:00 pm EST since that’s the time U.S. markets close, but we’d recommend you double check with your broker.

One-Cancels-the-Other (OCO)

An OCO order is a mixture of two entry and/or stop-loss orders. Two orders with price and duration variables are placed above and below the current price. When one of the orders is executed the other order is canceled.

Let’s say the price of EUR/USD is 1.2040. You want to either buy at 1.2095 over the resistance level in anticipation of a breakout or initiate a selling position if the price falls below 1.1985. The understanding is that if 1.2095 is reached, your buy order will be triggered and the 1.1985 sell order will be automatically canceled.

One-Triggers-the-Other

An OTO is the opposite of the OCO, as it only puts on orders when the parent order is triggered. You set an OTO order when you want to set profit taking and stop loss levels ahead of time, even before you get in a trade.

For example, USD/CHF is currently trading at 1.2000. You believe that once it hits 1.2100, it will reverse and head downwards but only up to 1.1900. The problem is that you will be gone for an entire week because you have to join a basket weaving competition at the top of Mt. Fuji where there is no internet.

In order to catch the move while you are away, you set a sell limit at 1.2000 and at the same time, place a related buy limit at 1.1900, and just in case, place a stop-loss at 1.2100. As an OTO, both the buy limit and the stop-loss orders will only be placed if your initial sell order at 1.2000 gets triggered.

In conclusion…

The basic forex order types (market, limit entry, stop-entry, stop loss, and trailing stop) are usually all that most traders ever need.

Unless you are a veteran trader (don’t worry, with practice and time you will be), don’t get fancy and design a system of trading requiring a large number of forex orders sandwiched in the market at all times.

Stick with the basic stuff first.

Make sure you fully understand and are comfortable with your broker’s order entry system before executing a trade.

Also, always check with your broker for specific order information and to see if any rollover fees will be applied if a position is held longer than one day. Keeping your ordering rules simple is the best strategy.

DO NOT trade with real money until you have an extremely high comfort level with the trading platform you are using and its order entry system. Erroneous trades are more common than you think!


订单的种类

Forex Orders

           所谓的“菜单”是指你将如何进入或退出一个交易的方式。 在这里,我们将讨论外汇市场上,各种不同类型的订单。

       确保你已经弄清楚你的经纪商,能够接受的是哪种类型订单。不同的经纪商,接受的订单类型,会有些不同。

       这里是一些所有的经纪商,都会提供的基本订单类型;和一些听起来怪异的订单类型。

订单的种类

即时订单 Market Order

       所谓的即时订单,是以当时可能最好的价格,即时买进或卖出。

       例如,欧元/美元目前市场的卖方价(Bid)是1.2140,买方价(ask)为1.2142。如果你这时想进场买进欧元/美元,那么对方将以1.2142的价格把货币卖给你。你只需要点击交易平台上的“买入”键,你的“定单”将会按照1.2142的市价即时成交。

       如果你曾经在Amazon.com购物,它就有点像是哪一键订购。你喜欢目前的价位,您只需点击一次,东西就是你的了!唯一的区别是你买进或卖出的是一种货币对,而不是超人气的90后加拿大歌手Justin Bieber的CD。

自设价格进场挂单 Limit Entry Order

       所谓自设价格是指,先把订单设置在,低于市价的买单 高于市价的卖单

       例如,欧元/美元目前的价位是1.2050。而经过分析后,您认为价格在上升到1.2070的时候,将会碰到强大的阻力而开始反转。所以你想在价格升到1.2070时入场做空。这时你有两种选择:第一,坐在电脑荧幕前面,等待它升到1.2070(此时你只需要点击一个卖出的按钮);第二,您可以设置一个卖出挂单在1.2070价位(那么你就可以离开你的电脑,去上你的交际舞课程了)。

       如果价格上升到1.2070,您的交易平台将自动帮你执行这个卖出指令。

       你会使用这种自设价格的挂单,是因为您认为价格在到达某一个特定的价位时,市场会出现反方向回弹,或价格会反转走势。为了避免错失这次可能的盈利机会,而您又不想一直待在电脑前守候,所以使用的方法。

止损后进场挂单 Stop-Entry Order

       所谓止损后进场挂单,就是先把先订单设置在,高于市价的买单 或 低于市价的卖单。

       例如,英镑/美元目前的价位在1.5050并且还在向上冲刺。 经过分析,您相信英镑/美元的价格,如果上升并突破1.5060这个强大的阻力位后,英镑/美元的上升趋势将会形成,市场会朝着向上的方向攀升。这时你可以选择,第一,坐在电脑前等待,当英镑/美元的价格上升到这个价位的时候,点击买进按键;第二,在1.5060的价位上设置一个止损后进场的买进挂单。然后,您就可以关掉电脑去做别的事情。您设置止损后进场挂单的目的,是因为目前无法判断市场的走向,但你觉得市场的动能,如果累积到突破某一个特定的价位后,趋势将会形成,市场会朝着那个方向一直走下去。


止损挂单 Stop-Loss Order

       止损挂单是一种连接着交易下单的挂单,它的目的是当市场突然和你作对时,及时阻止亏损的扩大,减少你可能的亏损。要紧记这类型的挂单。设置后的止损挂单会一直有效,直至仓位关闭或者你自己取消该止损挂单为止。

       举例来说,你做多(买进)欧元/美元在1.2230的价位。为了限制你的最大亏损,你在1.2200的价位设置了止损挂单。这意味着,不然你的分析错得多么死,一旦欧元/美元跌至1.2200,你的交易平台将自动执行1.2200的止损挂单,在亏损30点(呃!)下卖出并关闭仓位。

       如果你不想一整天都在电脑显示器前面,担惊受怕会失去所有金钱的话,止损挂单对你是非常有用的。您可以简单的为每个仓位,设置你的止损挂单程序,那么你就不会错过你的竹篮编织课程或大象马球比赛了。

尾随止损/追踪止损 Trailing Stop

       追踪止损是止损单的一种形式,它会追随价格的波动而移动。

       比方说,你决定作空美元/日元在90.80的价位,同时设置了20点的追踪止损。 这意味着,你最初的止损价是91.00。如果价格下跌到90.50的价位时,您的追踪止损会自动尾随到90.70的价位。

       你只要需要记得,你的止损会停留在90.70的价位。如果价格对你不利的话,它不会倒退回去。回到例子中,如果美元/日元的价格这时突然从90.50的价位回升到90.60,你的止损还是挂在90.70的价位。

       只要价格回落不超过你设置的20点,您的仓位将一直保持开放状态。一旦价格回落到你的追踪止损位置,你的交易平台将自动执行止损指令,你的仓位将自动被关闭。

特殊的订单

     “我可以订购一个星巴克大杯装的热豆奶,要加奶泡、再加上一半的无糖热巧克力。然后再把一半的白色无糖肉桂,和一包半的代糖放进一个特大的杯装,再注满焦糖和巧克力汁吗?”

       哎呀,一份特殊的订单。

GTC(Good 'Till Cancelled)订单

       GTC订单会一直在市场上开启,直到您决定取消它为止。你的经纪商永远不会取消该订单。因此,你的责任是需要记住那些你还没有取消的GTC订单。

GFD(Good for the Day)订单

       GFD订单会一直在市场开启,直到当天的交易日结束。由于外汇市场是24小时的市场,这通常意味着交易日结束的时间是美国东部时间下午5:00,但我们建议你与你的经纪商仔细检查一下。

OCO(One-Cancels-the-Other)二选一挂单
       OCO挂单是同时设置:自设价格进场/和止损后进场的挂单混合物。两个挂单分开挂在高于和低于当前市场价格的位置。当有一个挂单被执行,另外一个挂单就自动被取消了。

       比方说,欧元/美元的价格是1.2040。不论你想在突破阻力位上方的1.2095价位做多,或是跌至1.1985价位时做空。可以理解的是,如果价格升到1.2095,您设置的多单将被启动,而1.1985的空单将会自动被取消。

OTO(One-Triggers-the-Other)触发式二选一挂单

       OTO挂单是OCO挂单的另一种,但它只在某挂单被触发后才会启动的。你会先设置OTO挂单,是因为你打算提前设置好获利目标和止损目标,甚至在你进行下单之前就已经打算那么做。

       例如,美元/瑞郎目前的价位是1.2000。您相信,这几天一旦它上升到1.2100,价格就会反转下跌到1.1900。问题是,你这整个星期,要在富士山的山顶,参加一个竹篮编织的比赛,而那边没有互联网。

       为了在你不在的时候抓住这一波行情,你在1.2000价位挂上了空单,并同时,在1.1900的价位挂上止盈单,和在1.2100的价位挂上止损单。作为OTO触发式二选一的挂单,只有在您最初挂上的1.2000空单被触发后,在1.1900的止盈单和1.2100的止损单才会被启动。

...结论 ...

       基本的订单类型(即时订单、自设价格进场挂单、止损后进场挂单、止损单)是大多数的交易者在通常所需要的。

       除非你是一位资深的交易者(别担心,随着实践和时间的磨练,你也会成为的),不要幻想和尝试设计出一个可以在任何时段,使用所有的订单类型,进行各种交易的三文治系统。

       坚持先熟悉的运用,最基本类型的订单。

       在执行交易之前,请确保你完全理解和已经熟悉,您经纪商提供的交易系统。

       此外,经常检查您经纪商的提供的订单详细细节,和查看如果开启仓位的时间超过一天之后,是否有隔夜利息。让您的下单规则,尽量保持简单,就是最好的策略了。

       不要使用现金进行交易,一直到你找到有一个,自己使用起来感觉非常舒适的交易平台。失误造成的下错单,比你想象的还要常见!