A lot of traders use many trading orders , but they dont understand what they are for or how to use them.
In this video, I will simplify all these orders to 2 orders only. When you want to buy, use limit order.
This will allow you to get the Ask price or lower. If you want to use a stop loss, use the stop order.
If the price goes down to your stop loss order price, you will exit immediately. so the stop order changes to
market order and you get the next available price in the market.
If you are doing a swing trade, you should use the time in force called GTC which stands for good to cancel which
simply means that you are stop loss will be always valid for 2 months or more. So try and call your broker
and ask him for how long the GTC will stay.
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