FX Growth Lesson 10 of 11 6 min read
Order types and execution
Market, limit and stop orders, plus brokers, spreads, swaps and execution quality.
Order types
Market orders fill instantly. Buy/sell limit orders wait for a better price (a pullback). Buy/sell stop orders wait for a breakout.
Trailing stops move your stop loss automatically as price moves in your favour.
Costs of trading
Spreads, commissions and swaps (overnight financing) all reduce returns. Spreads widen during news and at session opens.
Brokers
Choose a regulated broker with transparent pricing, fast execution and reliable withdrawals. ECN/STP brokers pass orders to liquidity providers; market makers take the other side.
Key takeaways
- Use limits for pullbacks, stops for breakouts.
- Watch spreads around news.
- Broker quality affects results.