Knowing Market Order

Order used to enter positions

Market order on forex world is the order way to buy or sell a currency pair at the current market price.

For example:
FX Trading Station will always show two prices for every currency pair the price that you can buy (also known as ASK) and the price that you can sell (also known as BID). For instance, the market could be pricing EUR/USD at 1.2200 – 1.2205, meaning traders can buy EUR/USD at 1.2205 but would have to sell at 1.2200

These prices represent the current market prices, and traders who choose to enter market orders would be filled at the rate they see.


Summary key of Market Order

Advantage:
Ensures trader that they will be in the positions

Disadvantage:
Although the trader may not get the best price they’ve gotten they used another order type.
That is often overlooked, is that market orders are more conducive for being used recklessly and without discipline.