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.
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.
Inside Trade Master 9.
Trading operations can be performed through 2 types of market orders, 6 types of pending orders, 2 stop orders and trailing stop.
Every Order You Can Place.
Two types of market orders, six types of pending orders, two stop orders and trailing stop.
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.
Which Type For Which Job.
Three notes on picking an order type rather than defaulting to one.
In practice
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.
Worth knowing
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 it is for
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. 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.
Read next
Execution Modes. Flexible Trading System. Technical Analysis. Or open the Platform Guide for all 77 pages.
More Pages to Read.
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Real AccountA real account allows eligible users to trade live markets with real funds, subject to terms…
Or jump to the TM9 Guides and Platform Guide hubs, or the home page.