What is a trade order?

In trading, an order can be defined as the intention to trade. In the wider sense, the term order can also incorporate the actual trade – as order management often incorporates managing the trade after the order was executed.

More specifically, when entering an order, you are instructing your broker to either buy or sell something. For example, when trading on the forex market, you are instructing your broker to buy or sell a certain quantity of a currency pair. On the stock market, you are instructing your broker to buy or sell a certain amount of shares.

These orders can be very simple, such as buying at any price. And they can be more complex ones that are valid only for a certain amount of time and have further conditions attached to them.

Trade orders in MetaTrader 4

MetaTrader 4 (MT4) is the most popular trading software. Most of the partner brokers of tradimo offer it for free to their customers. Read our tutorial on how to enter orders in MT4:

How to open and close trades, enter a stop loss/take profit and enter/cancel an order in MT4.

An order in the trading software MetaTrader 4.

number_1 is the position size

number_2 is the stop loss

number_3 is the profit target

Further reading

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