MT5 supports several order types, allowing traders to implement various strategies:
Market Order:
- An order to buy or sell a financial instrument at the current market price.
- It is executed immediately at the best available price.
Pending Orders:
- Buy Limit: An order to buy at a price lower than the current market price.
- Sell Limit: An order to sell at a price higher than the current market price.
- Buy Stop: An order to buy at a price higher than the current market price, used when expecting further price increase after a certain level.
- Sell Stop: An order to sell at a price lower than the current market price, used when expecting further price decrease after a certain level.
- Buy Stop Limit: A combination of Buy Stop and Buy Limit orders, triggering a limit order at a set price.
- Sell Stop Limit: A combination of Sell Stop and Sell Limit orders, triggering a limit order at a set price.
Stop-Loss and Take-Profit Orders:
- Used to limit potential losses or secure profits at predefined price levels.
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