These are trades where the trader sets a specific exchange rate at which they want to automatically exit a trade to limit their losses if the market moves against them.
Market orders
These are trades where the trader buys or sells a currency at the current market rate, regardless of the price.
Spot trades
These are trades where currencies are exchanged at the current market rate, with settlement typically occurring within two business days.
Options trades
These are trades where the buyer of the option has the right, but not the obligation, to exchange currencies at a specified exchange rate and on a specified date.
Forward trades
These are trades where two parties agree to exchange currencies at a specified future date and at a pre-agreed exchange rate.
Limit orders
These are trades where the trader sets a specific exchange rate at which they are willing to buy or sell a currency. The trade is automatically executed if the market reaches that exchange rate.
Swap trades
These are trades where two parties agree to exchange currencies at a specified spot rate and then re-exchange the currencies at a specified forward rate.
It is important to note that the type of trade chosen depends on the trader's objectives, risk tolerance, and trading style
