Order Types.

A trading mobile app for operations in the forex and exchange markets is only as flexible as its order ticket, so here is the full list.

Trading operations can be performed through 2 types of market orders, 6 types of pending orders, 2 stop orders and trailing stop.

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Order Types in Short.

The order ticket is where intention becomes instruction, so the range of orders a trading mobile app offers sets the limits on operations in the Forex and exchange markets. Trade Master 9 supports two types of market orders, six types of pending orders, two stop orders and trailing stop — enough that most strategies can be expressed directly rather than approximated by sitting at the screen and pressing buttons at the right moment.

Market orders answer the simple case: take the price that is there now. Pending orders answer the planned case: act only if the market reaches a level you have chosen, whether that is a breakout above resistance or a return to support you would rather buy into than chase. Six variants exist because "reaching a level" can mean several things — approaching it from above or below, with or without a limit on how far past it you are willing to trade.

Stop orders and trailing stop handle the exit, and they are the reason a position does not need constant attention. A stop closes the trade at a level you have decided in advance, when you are calm rather than watching a candle. A trailing stop moves that level along behind the price as the trade works, converting an open profit into a protected one without you doing anything.

Used together, the three layers cover an entire trade: a pending order to get in, a stop to define the loss you accept, a trailing stop to manage the win. That is a full strategy running while you are asleep or at work, which is what most people actually need from a mobile platform. The home page shows how the rest of the app supports it.

Order Types on Real TM9 Screens.

Where orders begin and end in the TM9 2.0 app: quotes to enter from, open positions to protect with stops, the portfolio hub, a EUR/USD chart with alerts and margin tracking.

TM9 open positions view - order types context

TM9 EUR/USD chart with alerts - order types analysis

TM9 balance equity margin panel - order types risk view

TM9 live quotes and close position - order types trading

TM9 portfolio hub with alerts - order types overview

Every Order You Can Place.

The order groups in Trade Master 9 and what each one is for, from entering at today's price to protecting a position.

The full set

2 types of market orders.
6 types of pending orders.
2 stop orders.
Trailing stop.

Market versus pending

Market orders execute at the current price, while pending orders wait for a level you set. Between them they cover both reactive and planned entries.

Protecting a position

Stop orders and trailing stop exist to close a position without you watching it, either at a fixed level or at a distance that follows the price as it moves your way.

App on the home page for Order Types

Which Type For Which Job.

Three notes on picking an order type rather than defaulting to one.

How do traders combine order types on one position?

A typical working setup uses a pending order for the entry, a stop order for the exit you do not want, and a trailing stop once the trade is in profit. All three can sit on the same position without you being at the screen.

What should you check before a strategy relies on pending orders?

Which order types a broker accepts on a given instrument can vary, and pending orders are subject to the execution mode in use on your account. Both are worth checking before a strategy depends on them.

Who should start with the order types guide?

Anyone building a repeatable strategy should start here, especially traders coming from an app that only offered instant buy and sell.

Where Order Types Sit.

Between the decision you made and the fill you get.

Ten types, two jobs

Two market order types, six pending types, two stop orders and a trailing stop. They do two jobs between them: getting you in at a price you chose rather than the one that happened to be there, and getting you out without you having to be watching. The second job is the one most new traders leave undone.

Good to know

TM9 is a software development company and does not provide investment or brokerage services for Order Types users.. The platform supplies the trading terminals, analysis tools and automation; your broker holds the funds, sets spreads and leverage, and executes the orders the platform sends. Trading carries a real risk of loss, and signals or robots are tools rather than financial advice.

Forex How-To

Choosing an order type is Step 10 of How to Trade Forex, the main guide for this category, so the earlier steps are worth reading first. The forex guide hub collects all 33 forex guides.

Order Types.

Order Types in Short.

Order Types on Real TM9 Screens.