At or Better

“At or Better” in forex refers to a type of order that allows traders to specify a desired price for executing a trade, but with the flexibility of accepting a better price if it becomes available in the market. This order type gives traders the opportunity to potentially get a more favorable price for their trade.

When placing an “At or Better” order, traders set a specific price at which they want to enter or exit a position. However, if the market price reaches a level that is more favorable than the specified price, the trade will be executed at the better price. This means that traders have the chance to benefit from price improvements if they are available.

Here’s an example to illustrate how an “At or Better” order works:

Let’s say a trader wants to buy a currency pair at a specific price of 1.2000. However, the current market price is 1.1995. By placing an “At or Better” order, the trader instructs the broker to execute the trade at 1.1995 or a better price if it becomes available. If the market price moves to 1.1990, the trade will be executed at that level, providing the trader with a more favorable entry price.

The “At or Better” order type is commonly available on trading platforms as a “Limit” order. It allows traders to have more control over the price at which their trades are executed while also having the potential to benefit from price improvements in the market.

It’s important to note that while “At or Better” orders offer the possibility of getting a better price, there is no guarantee that the trade will be executed at a more favorable level. If the market does not reach the specified price or a better price, the trade may not be executed at all.

In summary, “At or Better” in forex refers to an order type that allows traders to specify a desired price for executing a trade, but with the flexibility of accepting a better price if it becomes available in the market. This order type provides traders with the opportunity to potentially benefit from price improvements while having more control over the execution price of their trades.