Get to know order types

In order to trade commodities efficiently, you better know the different order types. We have listed them below for your convenience.

  • GTC Order: As the abbreviation suggest, Good Till Cancelled, this order type stays in the market until it is either filled or cancelled.
  • Limit order: An order to buy or sell a commodity at a pre-specified price level.
  • Market order: An order to buy or sell a commodity at the current market price.
  • Limit Entry Order: An order to buy below a commodity the market or sell above the market at a pre-specified level, believing that the commodity price will reverse direction from that point.
  • OCO Order: An OCO Order (One Cancels Other) means whereby if one is executed, the other is cancelled.
  • Stop-Entry Order: An order to buy a commodity above the market or sell below the market price at a pre-specified level, believing that the price will continue in the same direction.