Mindblown: a blog about philosophy.

Before we go any further, we are going to be 100% honest with you and tell you the following before you consider trading currencies: 1. All forex traders, and we do mean ALL traders, LOSE money on some trades. Ninety percent of traders lose money, largely due to lack of planning, training, discipline, not having…

You can open a demo account for FREE with most forex brokers. These “pretend” accounts have most of the capabilities of a “real” account. But why is it free?It’s because the broker wants you to learn the ins and outs of their trading platform, and have a good time trading without risk, so you’ll fall in love with…

Understanding the various order types available for trading is essential for executing your trading strategy effectively. Each order type offers its own set of advantages and disadvantages. By familiarizing yourself with these order types, you can gain better control over your trades and improve your overall trading performance.

An One Cancels Other (OCO) order consists of two orders, typically a limit order and a stop order. If one order is executed, the other order is automatically canceled. Advantages: Disadvantages:

A Good Till Cancelled (GTC) order is an order that remains active in the market until you cancel it manually or it is filled. GTC orders can be used with various types of orders, such as limit and stop orders. Advantages: Disadvantages:

A trailing stop order is a type of stop order that moves with the market price. It allows you to lock in profits as the market moves in your favor while still providing protection if the market reverses. Advantages: Disadvantages:

A stop limit order combines the features of a stop order and a limit order. Once the stop price is reached, the order becomes a limit order to buy or sell at the specified limit price or better. Advantages: Disadvantages:

A stop order, also known as a stop-loss order, is an order to buy or sell once the price reaches a specified level, known as the stop price. This type of order can help protect you from large losses by automatically exiting a position if the market moves against you. Advantages: Disadvantages:

A limit order is an order to buy or sell at a specific price or better. This type of order provides you with control over the price at which the trade is executed. Advantages: Disadvantages:

A market order is a type of trading order that is executed immediately at the current market price. This order type ensures that the trade is executed quickly, which can be crucial in fast-moving markets. Advantages: Disadvantages: