Any order mechanism other than a market order that specifies a rate must have an expiration date. “On the day” expiration dates are only valid on the day (business day) of the order, “during the week” expiration dates are good until the conclusion of the transaction for that week, and “indefinite (GTC)” expiration dates are effective until the purchase is canceled. There are other Forex firms that can work with any date and time frame.
You may forget about an order if the expiration date is set too far in the future, or if you accidentally make an order for an extended period of time…. You may examine the order you’re placing on any Forex company’s trading screen, but one day, the order you forgot about is suddenly being performed… It’s not impossible. Make sure to keep track of the expiration date.
Other sites, depending on the Forex firm, provide numerous ordering systems that appear to work well when used correctly depending on the market circumstances, but the majority of them are centered on three things: market orders, limit orders, and stop loss orders.
