Forex Lectures: Which Forex Order Type Should You Use, Market or Pending?

The answer to whether you should use a market order or a pending order depends on the situation. For instance, if you know you won’t be around to execute a position, a pending order is probably the way to go.

On the other hand, if you’re at your computer when a setup is confirmed, there’s nothing wrong with using a simple market order to enter long or short.

With that said, the type of order you use also depends on your style of trading.

I know of some traders who are flat out opposed to market orders because they feel there’s too much that can go wrong when entering at market such as slippage which we’ll cover momentarily.

Justin Bennett
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