Stop Loss Gold Order Limit Gold Order
Stop Loss Gold Order Meaning
Stop Loss Gold Order is a type of order placed after opening a gold trade that is meant to cut losses if the xauusd market moves against you in the opposite direction.
Stop Loss Gold Order is a pre-determined point of exiting a losing gold trade & it is meant to control losses in xauusd trading.
A stop loss order is an order placed with your gold broker which will automatically close your open gold trade when price of your open trade order reaches a pre-determined xauusd price. When the set level is reached, your open gold trade transaction is liquidated.
These stop loss orders are designed to limit the amount of money that trader can lose: by exiting the gold trade if a specific xauusd price that is against the trade is reached.
For example, a trader might open a buy gold trade and put a stop loss of 20 pips, if the xauusd price moves against the trader by 20 pips the stop-loss order will be filled and the trade will be liquidated thereby limiting loss to 20 points (pips) - Gold Stop Loss Order Definition.
Limit Gold Orders: Buy Limit Gold Order vs Sell Limit Gold Order
Limit order definition - Gold limit is an order to buy or sell at a certain xauusd price which is a retracement level where xauusd price is predicted to pull-back to before resuming the original Gold trend. Gold traders use gold limit orders to buy or sell at better market price. Buy Limit Gold Order & Sell Limit XAUUSD Order - types of limit gold orders are available in most online trading softwares, such as MetaTrader 4 platform.
Buy Limit Gold Order & Sell Limit XAUUSD Order - A gold order of this type can be used to buy below the xauusd market level (upward trend retracement) or sell above the xauusd market level (downward trend retracement).
Buy limit Order - When buying, your gold buy limit is executed when the xauusd market falls to your set xauusd price. (retraces down) - buy limit order set below market xauusd price
Sell limit Order - When selling, your gold sell limit is executed when the xauusd market rises to your set xauusd price. (retraces up) - sell limit order set above market xauusd price
Limit orders are placed by traders when they expect xauusd price to bounce back after reaching this set level.
- Buy Limit Gold Order buy at a level below the current gold market level.
- Sell Limit Gold Order sell at a level above the current gold market level.
Buy Limit XAUUSD Order Example
In the buy limit order example illustrated and explained below, the buy gold limit order was placed to buy at a xauusd price below the current gold market price. Point B is the point at which it was set.
Buy Limit Gold Order Example - How to Use Gold Limit Buy Orders - Limit Gold Order Buy Example
The xauusd price then retraced and went down to hit the buy gold limit order, and afterward the xauusd price continued to move upward in direction of the original Gold upward trend. When the gold limit buy order was hit it changed to a buy gold order - How to Use Gold Limit Buy Orders.
Gold Price Hits Buy Limit Gold Order, Limit Buy Order Now Changes to a Buy Order - How to Use Buy Limit Gold Orders
Sell Limit Gold Order Example
In the sell limit order example illustrated and explained below a the sell gold limit order was placed to sell at a xauusd price above the current gold market price. This is the level for the xauusd price retracement.
Sell Limit Gold Order Example - How to Use Gold Limit Sell Orders - Limit Gold Order Sell
The xauusd price then rallied, went up to hit the sell gold limit order, and afterward the xauusd price continued to move downwards in direction of the original xauusd trading downwards trading trend.
Gold Price Hits Sell Limit Gold Order, Sell Limit Gold Order Now Changes to a Sell - How to Use Sell Limit Gold Orders
When the xauusd price hit the set sell limit order level the order changed to a sell order, this is therefore a good method to sell at a better xauusd price after a retracement.
