trading methods

[McMathews]

Hi all
I have been referring to the huge volumes of information in the internet. I have started to get different concepts regarding trading .However I was confused regarding some concepts as two different resources were pointing to two different directions. Finally I think I will get the right answer out here. Please help me regarding some of my confusions. What are market orders and limit orders which method of trading is more convenient? Which method can be used in order to limit risk and to achieve maximum gain?
Regards

 

[Tenapenny]

Hi all
I have been referring to the huge volumes of information in the internet. I have started to get different concepts regarding trading .However I was confused regarding some concepts as two different resources were pointing to two different directions. Finally I think I will get the right answer out here. Please help me regarding some of my confusions. What are market orders and limit orders which method of trading is more convenient? Which method can be used in order to limit risk and to achieve maximum gain?
Regards

It depends what you are trying to achieve. Can you be more specific about your preferred style of trading etc. As for orders, search engines are marvellous at providing answers. http://en.wikipedia.org/wiki/Order_(exchange)

 

[brettus]

Hi all
I have been referring to the huge volumes of information in the internet. I have started to get different concepts regarding trading .However I was confused regarding some concepts as two different resources were pointing to two different directions. Finally I think I will get the right answer out here. Please help me regarding some of my confusions. What are market orders and limit orders which method of trading is more convenient? Which method can be used in order to limit risk and to achieve maximum gain?
Regards

I'm guessing you have an FXCM account or something. A market order is a buy or sell at the current market price. (Funny that they call it the market price).
Limit order is an order to sell or buy at a price better than the current price. For sell limit order that would be higher than the current price, because selling at a higher price is better right? And a buy limit order will be buying at lower than the current market price. There orders only get filled if the market price gets there.

I don't know what is more convenient. I trade with a lot of limit orders, with attached limits orders if done and stop orders. Stop orders limit risk. I think understanding what they are should answer the other questions.

 

[timsk]

Hi McMathews,
Most (if not all) of the basic questions you're asking are answered comprehensively in the FAQ forum - please read it! There are even some FAQs with titles the same as your questions - such as this one: What's the difference between Stop Loss and Limit orders? If you take the time to examine the resources already available on T2W, there will be little need to start threads asking basic questions which have all been asked (and answered) 100 times before! Unfortunately, this takes time and effort, I'm afraid there are no short cuts.

Tim.

 

[Ambrose Ackroyd]

Hi all
I have been referring to the huge volumes of information in the internet. I have started to get different concepts regarding trading .However I was confused regarding some concepts as two different resources were pointing to two different directions. Finally I think I will get the right answer out here. Please help me regarding some of my confusions. What are market orders and limit orders which method of trading is more convenient? Which method can be used in order to limit risk and to achieve maximum gain?

Reading and researching are fine but don't overdo it because on its own it will get you nowhere.

Reading all the books ever written on trading will not make you a trader but actually doing it will.

Read a little but do a lot.

Answer your own questions by opening a demo SB account or a demo MT4 account and trade , trade, trade............

Make all the mistakes in the book, experiment like crazy, try out the various kinds of orders etc etc. and learn from it.

I have always found the practical approach to be the best way to learn.

 

[Ambrose Ackroyd]

If you don't like demo accounts then open a live SB MT4 account with Smart Live Markets where you can start betting at 10 pence per point, rising in increments of 10 pence.

 

[Tenapenny]

If you don't like demo accounts then open a live SB MT4 account with Smart Live Markets where you can start betting at 10 pence per point, rising in increments of 10 pence.

He's stateside so I don't think that's an option for him.