I'm sorry to ask such a simple question, but I simply don't get it. Maybe I need to just use it.
Can you please give me a live scenario/example on why you would use a buy stop or market stop .
I understand the others.
Here is the definition of MT4, and after reading it, I have no clue.
Thanks for your aid.Buy Limit -- buy supplied the future ASK price is equivalent to the pre-defined value. The current price level is higher than the value of the placed order. Orders of this type are often placed in expectation of the the security price, having dropped to a certain degree, increases;
Buy Cease -- buy supplied the future ASK price is equivalent to the pre-defined value. The current price level is lower compared to the value of the placed order. Orders of this type are often placed in expectation of the the security price, having attained a certain degree, will keep on increasing;
Economy Limit -- market supplied the future BID price is equivalent to the pre-defined value. The current price level is lower compared to the value of the placed order. Orders of this type are often placed in expectation of the the security price, having increased to a certain degree, will collapse;
Sell Stop -- market supplied the future BID price is equivalent to the pre-defined value. The current price level is higher than the value of the placed order. Orders of this type are often placed in expectation of the the security price, having attained a certain degree, will keep on falling.