In the previous article we discussed about the different types of orders that we can find in the operation of the Forex Market.
But we must also bear in mind the duration in time possessing each of these commands:
– Valid until Cancellation: This means that this order remains active or valid until the market reaches a certain level or canceled by the operator.
– Valid until “N”: In this case N is a period of time determined by the operator, such as an hour, a day, a week, etc. This order will remain active until the market reaches a certain level or a certain time.
– One cancels the other: better known as OCO order, in this case it is a combination of two orders, a limit order and stop. In this way an order is placed below the market, and another is set above the market, regardless of whether they are orders to buy or sell when the market reaches an order, the other is automatically canceled.