Entry price is the exact price at which a forex position officially opens, the reference point for every trade outcome.
A one cancels other order links two pending orders so that executing either one automatically cancels the other.
A trailing stop automatically moves in the direction of profit as a trade advances, locking in gains dynamically.
A take profit order automatically closes an open position once price reaches a predefined favorable level.
A stop loss order automatically closes an open position once price reaches a predefined unfavorable level.
A sell stop order opens a short position only after price confirms downward momentum by breaking below a set level.
A buy stop order opens a long position only after price confirms upward momentum by breaking above a set level.
A sell limit order is a pending order placed above the current market price to open a short position at a better level.
A buy limit order is a pending order placed below the current market price to open a long position at a better level.
Limit order vs stop order compares the two pending order families and when each fits a trading strategy.