The term “Order” refers to how you will enter or exit a trade. There are many different types of orders that can be placed in the market. You can choose to execute a trade at the current market price. Alternatively, you can create a conditional order to execute a trade at a future market price, above or below the current market rate. Read about the order types available on the Metatrader 4.
Order to immediately open a buy or sell position at the current market rate.
The order will be triggered if the predefined price is reached and either a new position will be opened or an existing one closed.
Two orders combined: when one is triggered the other will be automatically cancelled.