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Buy Limit

A buy limit order is a type of pending order that allows a trader to put instructions in the trading software (MT4) and (MT5) in order to purchase a security at a specified price. It’s placed below the CMP (current market price) if a trader expects that the price will bounce back after falling to a specific trading level. Here, the trader aims to buy at a low price and sell at a higher price.

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Open Position

An active trade that has yet to be closed.