Market Execution vs Pending Gold Order
There are different types of gold orders which a gold trader can use to trade in Gold.
The most important thing to remember about gold orders is this: Always understand the gold orders you place when gold trading. Never place a gold order which you are not entirely knowledgeable about. Below are the some basic definitions and explanations of the commonly used gold orders - types of gold orders explained:
Gold Trading Market Execution Orders and Pending Gold Orders
Market Execution Order
This is the most basic type of gold order, Market Execution Order is used to buy or sell at the current ask or bid gold trading quote xauusd price. This Market Execution Order refers to the quoted xauusd price that appears on your gold trading platform.
This type of xauusd order - Market Execution Order - is used for buying or selling at the current price gold trading quote in Gold Trading, the execution of this xauusd order is instant. The minute you want to enter a position you can buy and sell gold at a click of a button using a gold trading Market Execution Order - also known as a Market Order or Market Instant Execution Order.
Pending XAUUSD Orders
These are gold orders used to open a new gold trade position after the xauusd market reaches a gold price specified by the gold trader.
Pending Gold Orders are used to buy or sell gold when the gold price attains a certain xauusd price target.
When a specific xauusd price level is reached or broken then a gold trading Pending Gold Order is executed.
These Pending Gold Orders are used to enter a gold trade at a specified xauusd price level. It is almost impossible to monitor the xauusd market every second and this is why a Pending Gold Order can be useful when trading gold. If you feel the xauusd market may take a certain action, such as break through a particular xauusd price level that it has been touching but it has not been able to break, you would want to use an Entry Limit XAUUSD Order - Pending Gold Order. Once the xauusd market crosses your specified level, your entry limit gold trade order is executed.
There are two different types of Pending Gold Orders - Entry Limit Gold Order and Entry Stop Gold Order.
These Pending Gold Orders are also known as Entry Limit Gold Orders or Entry Stop Gold Orders.
Pending Gold Order
An order to buy or sell at a certain limit.
An Entry Limit XAUUSD Order - Pending Gold Order can be used to buy below the current xauusd price or sell above the current gold price.
When buying, entry limit xauusd order is executed when the xauusd price falls to your limit level xauusd price.
When selling, entry limit xauusd order is executed when the xauusd price rises to your limit level xauusd price.
These Entry Limit XAUUSD Order - Pending Gold Orders are placed by gold traders when they expect the xauusd market to bounce back after reaching the xauusd price level at which the entry limit gold order was placed.
- Buy Limit XAUUSD Order - Pending Gold OrderSpecifies to buy at a level below the current gold market gold price
- Sell Limit XAUUSD Order - Pending Gold OrderSpecifies to sell at a level above the current gold market gold price
Entry Stop Gold Order
An entry stop order is an order to buy above the current xauusd price or to sell below the current xauusd price.
When buying, entry stop order pending xauusd order is executed as the xauusd market goes up and hits the buy stop level.
When selling, entry stop order pending xauusd order is executed as the xauusd market goes down and hits the sell stop level.
- Buy Stop XAUUSD Order - Pending Gold OrderSpecifies to buy at a level above the current market gold price.
- Sell Stop XAUUSD Order - Pending Gold OrderSpecifies to sell at a level below the current market gold price.
