Entry Order

Brief

The article describes an entry order and explains how it works.

Details

An entry order is an order to open a Buy or Sell position at a specified price.

An entry order can have the following Order Type values:

• Entry - specifies a certain price at which a position is to be opened. Entry orders are further subdivided as follows:

• Limit Entry (LE) - is an order to buy below or to sell above the current market price.
• Stop Entry (SE) - is an order to buy above or to sell below the current market price.
• Range Entry (RE) - specifies a certain price range within which a position is to be opened. The range is specified in pips in the adjoining window to the right. For more information, see Range Entry Order.

An entry order can have the following Time In Force values:

• GTC - stands for Good Till Canceled. It means that the order remains active until it is canceled. A GTC order can be partially executed in the available liquidity amount at the available market prices.
• GTD - stands for Good To Date. It means that the order remains active until a specified date and time. By default the time is set as the end of the current trading day (16:59 New York time).

Note that Stop and Limit orders can be added to an entry order, and a Stop order can be made trailing.

For more information, see Working with Entry Order.