Market Orders:

A market order is an order to buy or sell which is to be filled immediately at the current exchange rate quotation. Under no conditions will a market order be filled at a price to which the client has not approved.

Entry Orders:

An entry order is an order that is executed when a particular price level is reached and/or broken. The execution of these orders are under the supervision of the dealing desk and remain in effect until the client cancels the order.

Stop Entry Orders:

Stop entry orders are executed when the exchange rate breaks through a specific level. The client placing a stop entry order believes that when the market's momentum breaks through a specified level, the rate will continue in that direction.

Limit Entry Orders:

Limit entry orders are executed when the exchange rate touches (not breaks) a specific level. The client placing a limit entry order believes that after touching a specific level, the rate will bounce in the opposite direction of its previous momentum.

Stop-Loss Orders:

A stop-loss is an entry order linked to a specific position for the purpose of stopping the position from accruing additional losses. A stop-loss order placed on a Buy position is a stop entry order to Sell linked to that position. A stop-loss order remains in effect until the position is liquidated or the client cancels the stop-loss order.

Limit Orders:

A limit order is a limit entry order linked to a specific position for the purpose of locking in the gains on an existing position. A limit order placed on a Buy position is a limit entry order to Sell that position. A stop-limit order remains in effect until the position is liquidated or the client cancels the stop-limit order.

Market Orders: Getting Started

Millennium Trader is intuitive and user-friendly making order entry, including market orders , quick and efficient. We guarantee fills on market orders offering traders price certainty. To place a market order simply left click directly on the price in the market watch window, specify the size of the transaction and then Sell or Buy , your market order is complete.