A limit order is an order to buy or sell an asset at a specific price or better. FNmarkets allows traders to set limit orders to control the price at which their orders are executed.
To set a limit order, follow these steps:
1. Go to the trading platform and select the asset you want to trade.
2. Click on 'Trade' to open the trading window.
3. In the trading window, select 'Limit' from the order types.
4. Enter the specific price at which you want to buy or sell the asset.
5. Specify the amount of the asset you want to trade.
6. Set your desired parameters for Stop Loss and Take Profit if needed.
7. Click on 'Set Order' to place your limit order.
Your limit order will remain open until the asset reaches the specified price or you cancel the order. If the market price reaches your limit price, the order will be executed automatically. Limit orders give traders more control over their entry and exit prices, helping to manage risk and optimize trading strategies.