There is various type of orders which a customer can use to trade financial instruments. All order types listed below are accepted by Pruton Capital and maybe be placed via MT 4 trading platform. These strategy orders can help customers to manage the risk on their open positions or enable them to open new positions if the market reaches certain levels.
Limit Order is an instruction to execute orders if the market reaches a pre-defined level. They can be used to buy below the current market price or sell above the current market price. For Buy Limit, your order is executed when the market falls to limit order price. For Sell Limit, your order is executed when the market rises to your limit order price.
Stop Order is an instruction to buy above the current market price or sell below the current market price. They are most commonly used as stop-loss orders to limit losses if the market moves contrary to what the customer expected.
Please note: Stop Orders are not allowed if there are no existing open positions.
Trailing Stop is a stop order that adjusts as the price of a symbol moves. The stop price is placed at a set distance above or below the market price depending on whether it is on a long or short position. The stop price then adjusts as the price of the symbol moves, maintaining the set distance. The purpose of this order is to maintain a set level of potential loss at any point
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A Market Order is an instruction to buy or sell at the current market price. They can be used to enter or exit a trade.
Take Profit order is used to close a position by buying or selling when the market price reaches a specified level. Take Profit orders are typically used to lock in a profit.
Stop Loss order is used to close a position by buying or selling when the market price reaches a specified level. Stop Loss orders are typically used to limit any further losses that might occur.
It is possible to choose different lengths of time that an order remains active in the market.
Daily – A Daily order remains active in the market until the end of the trading day.
GTF (Good Till Friday) – A GTF order remains active in the market until the end of trading each week.
GTC (Good Till Cancelled) – A GTC order remains active in the market indefinitely until either the price is reached and the trade executed or the client manually cancels the order.
Pending Order Rules
Pending orders will be deleted when market closed at the end of each trading session, for all products which have a market closing hour within the day. However, stop loss and take profit orders will remain active in the market. These does not apply to products such as Spot Gold, Spot Silver and WTI oil which has a short trading break within the trading session.
Pending orders for all products will be deleted during weekend when market closed for trading. However, stop loss and take profit are allowed to remain active in the market.
Pruton Capital is the Trading Name of Pruton Group of Companies.