Limit Order

[Arthur 10]

Hi all

I am confused with the concept of limit order and stop loss order? Last time I was reading a journal and it stated that limit order is helpful to traders who order the broker to trade behalf of them only in specific condition. Can any one discuss this in detail?

Regards

[Mysticforex 13]

What market are you interested in. In Forex a limit order is to buy or sell currency at a certain limit. When you buy, your order is carried out when the market reached down your limit order price. When you sell, your order is carried out when the market reaches up your limit order price. You can use it to buy currency below the market price or sell currency above the market price. There is no slippage with limit orders.