Forex – Placing Market Orders


In this video I want to talk about different
types of orders. The first one I want to talk about is the Market Order, of course, a Market
Order is just jumping into the market, immediately, at the best price available. If we think this
market is going to continue to rally in this price and continue in a Bullish trend, we
might just want to come in and hit Buy Market. You’ll notice that we receive an Order Confirmation,
once we click the Buy Market button that we can confirm this order with, we go ahead and
hit Okay! That puts us into the market at the best price available. To exit the position, we can exit the position
in a number of different ways. We can either right click on the triangle itself, and say,
Close Position. We can also click the X button here on the side of the line, or we can come
down here and we can hit Exit Chart. If we hit Exit Chart it will remove all the orders,
including this one and any other orders that we might have on this particular chart. If
we hit Exit All it will go through and remove all the orders in the entire book on all charts
that we have available to us. So in this case, let’s just go ahead and remove the one position
that we have on. We’re going to right click here and say Close Position. It says will
close the position in the market, we have our confirmation box, we hit Okay, and now
we’re out of the market. Now a sale position sell market will be the
exactly the same thing we’ll come in here and say select Sell Market. This time we no
longer want the order confirmation box to appear we can simply say Don’t Show This Again.
When we click this box, we receive a disclaimer that says it’s a standard disclaimer that
says we’re doing a one click mode, indicating that you realize that when you click the button
you’re going to immediately get into the market. You say I accept the Terms of this Agreement,
we hit Okay. Now when we hit Okay we’re going to confirm that one, and then the next time
we get into the market, we’ll no longer have to see the box for a confirmation of getting
into the market on a market order. Now to liquidate this position we’re going
to come in here and we can hit Exit Chart or Exit All. But you’ll notice that before
we exit this position, that we have the order is appearing down here in the orders, open
orders position, in your accounting window. You’ll see your open orders position down
here. Let’s go ahead and exit the chart, this is another way of exiting out of this position,
hit okay. If we no longer want to have when we exit the chart to have the order dialogue
box pop-ups here, we can also say Don’t Ask Me This Again, say Yes, and now next time
we exit the position with the exit chart button, we will no longer receive that dialogue box.

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