{"id":38011,"date":"2026-09-08T07:19:24","date_gmt":"2026-09-08T07:19:24","guid":{"rendered":"https:\/\/www.wisuno.com\/uk\/?page_id=38011"},"modified":"2026-09-08T07:26:56","modified_gmt":"2026-09-08T07:26:56","slug":"orders-and-execution","status":"publish","type":"page","link":"https:\/\/www.wisuno.com\/uk\/learn\/orders-and-execution\/","title":{"rendered":"Orders, execution and market hours"},"content":{"rendered":"\n<div id=\"wsa\">\n<div class=\"riskstrip\">Trading CFDs and forex involves substantial risk of loss and is not suitable for all investors. You should carefully consider whether trading is appropriate for you in light of your circumstances, knowledge and financial resources.<\/div>\n<nav class=\"subnav\" aria-label=\"Academy sections\"><div class=\"subnav-in\"><div class=\"brand\">Wisuno <span>Academy<\/span><\/div><a href=\"\/uk\/learn\/\">Learn<\/a><a class=\"is-active\" href=\"\/uk\/learn\/courses\/\">Courses<\/a><span class=\"soon\">Intermediate<\/span><span class=\"soon\">Advanced<\/span><a href=\"\/uk\/academy\/editorial-standards\/\">Editorial standards<\/a><\/div><\/nav>\n<header class=\"hero\"><div class=\"wrap\"><div class=\"hero-in\">\n<p class=\"eyebrow\">Course 3 of 5 \u00b7 Beginner \u00b7 10 min<\/p>\n<h1>Orders, execution and market hours<\/h1>\n<p>What each order type does, when your level is a trigger rather than a price, and how the clock changes what a trade costs.<\/p>\n<div class=\"cta-row\"><a class=\"btn\" href=\"\/uk\/academy\/order-types\/\">Start course<\/a>\n<a class=\"btn btn--ghost\" href=\"\/uk\/learn\/courses\/\">All courses<\/a><\/div>\n<\/div><\/div><\/header>\n\n<section class=\"band\"><div class=\"wrap\">\n<div class=\"sec-head\"><h2>Course overview<\/h2><\/div>\n<div class=\"ov\">\n<div class=\"ov-desc\"><p class=\"ov-label\">Description<\/p><p>An order is an instruction with a condition attached, and the condition you choose decides two things: whether you get in at all, and at what price. No order type gives you both.<\/p><p>This course covers market, limit and stop orders, what a stop-loss can and cannot protect you from, and how long a pending order stays alive after you have forgotten about it.<\/p><p>It closes on the trading day \u2014 session times in UTC, how they land across the Gulf, Africa and South Asia, and why the same order costs several times more at the wrong hour.<\/p><\/div>\n<div class=\"ov-meta\">\n<div><p class=\"ov-label\">Time<\/p><div class=\"ov-val\">10 min<\/div><\/div>\n<div><p class=\"ov-label\">Level<\/p><div class=\"ov-val\"><span class=\"lvl lvl--1\"><i><\/i><i><\/i><i><\/i><\/span> Beginner<\/div><\/div>\n<div><p class=\"ov-label\">What is in it<\/p><ul class=\"benefits\">\n<li>Short lessons, one idea each<\/li>\n<li>Worked examples with real instruments and real costs<\/li>\n<li>Every figure shown as a cost, never as a projected gain<\/li>\n<li>A quiz at the end to check what stuck<\/li>\n<li>Free, with no account required<\/li>\n<\/ul><\/div>\n<\/div><\/div><\/div><\/section>\n\n<section class=\"band band--soft\"><div class=\"wrap\">\n<div class=\"sec-head\"><h2>Lessons<\/h2><\/div>\n<div class=\"lessons\"><a class=\"lrow\" href=\"\/uk\/academy\/order-types\/\"><span class=\"lrow-n\">1<\/span><span class=\"lrow-t\">Order Types: Market, Limit, Stop and Stop-Loss<\/span><span class=\"lrow-m\">5 min<\/span><\/a><a class=\"lrow\" href=\"\/uk\/academy\/forex-market-hours-and-trading-sessions\/\"><span class=\"lrow-n\">2<\/span><span class=\"lrow-t\">Forex Market Hours and Trading Sessions<\/span><span class=\"lrow-m\">5 min<\/span><\/a><div class=\"lrow lrow--quiz\"><span class=\"lrow-n\">?<\/span><span class=\"lrow-t\">Quiz<\/span><span class=\"lrow-m\">3 questions<\/span><\/div><\/div>\n<\/div><\/section>\n\n<section class=\"band\"><div class=\"wrap narrow example\">\n<div class=\"sec-head\"><h2>Example lesson: a stop-loss is a trigger, not a price<\/h2><\/div>\n<p>A stop-loss closes an open position once the price reaches a level you set. What it does not do is fix the price you exit at.<\/p><p>It is a stop order, so once triggered it becomes a market order and fills at the first price available. In normal conditions those sit close together. Over a weekend gap or a scheduled release they may not.<\/p>\n<p class=\"pull\">A stop-loss closes the position, which is its job. It does not cap the cost at the number you wrote down.<\/p>\n<div class=\"figure\"><table><caption>Standard-time figures. Europe and North America shift by an hour part of the year; most of the Gulf, Africa and South Asia do not.<\/caption><thead><tr><th>Session hours, UTC<\/th><th><\/th><\/tr><\/thead><tbody><tr><td>Sydney<\/td><td>22:00 \u2013 07:00<\/td><\/tr><tr><td>Tokyo<\/td><td>00:00 \u2013 09:00<\/td><\/tr><tr><td>London<\/td><td>08:00 \u2013 17:00<\/td><\/tr><tr><td>New York<\/td><td>13:00 \u2013 22:00<\/td><\/tr><\/tbody><\/table><\/div>\n<\/div><\/section>\n\n<section class=\"band band--tint\"><div class=\"wrap narrow\">\n<div class=\"sec-head\"><h2>Check your understanding<\/h2><p>3 questions. Nothing is recorded and nothing is sent anywhere \u2014 the answers are checked in your browser.<\/p><\/div>\n<ol class=\"quiz\" id=\"q3\"><li class=\"qq\" data-a=\"1\"><p class=\"qt\">Where does a buy limit order sit?<\/p><div class=\"qo\"><label><input type=\"radio\" name=\"q3_0\" value=\"0\"> Above the current price<\/label><label><input type=\"radio\" name=\"q3_0\" value=\"1\"> Below the current price<\/label><label><input type=\"radio\" name=\"q3_0\" value=\"2\"> At the current price<\/label><label><input type=\"radio\" name=\"q3_0\" value=\"3\"> Wherever the spread is widest<\/label><\/div><p class=\"qf\" hidden>A buy limit sits below the market: buy, but only if it gets cheaper. It fills at your price or better, or not at all.<\/p><\/li><li class=\"qq\" data-a=\"1\"><p class=\"qt\">A good-till-cancelled order you placed two weeks ago is\u2026<\/p><div class=\"qo\"><label><input type=\"radio\" name=\"q3_1\" value=\"0\"> Expired automatically<\/label><label><input type=\"radio\" name=\"q3_1\" value=\"1\"> Still live and able to trigger<\/label><label><input type=\"radio\" name=\"q3_1\" value=\"2\"> Converted to a market order<\/label><label><input type=\"radio\" name=\"q3_1\" value=\"3\"> Cancelled at each rollover<\/label><\/div><p class=\"qf\" hidden>Good-till-cancelled orders stay on the server until you delete them, including across weekends.<\/p><\/li><li class=\"qq\" data-a=\"1\"><p class=\"qt\">Why does the same order cost more at 23:00 UTC than at 13:30 UTC?<\/p><div class=\"qo\"><label><input type=\"radio\" name=\"q3_2\" value=\"0\"> Commission is higher at night<\/label><label><input type=\"radio\" name=\"q3_2\" value=\"1\"> Fewer participants are quoting, so the spread widens<\/label><label><input type=\"radio\" name=\"q3_2\" value=\"2\"> Leverage is reduced overnight<\/label><label><input type=\"radio\" name=\"q3_2\" value=\"3\"> Swap is charged on entry<\/label><\/div><p class=\"qf\" hidden>The spread reflects how many participants are quoting. With London and New York closed, it widens \u2014 and a nearby stop sits closer to being touched.<\/p><\/li><\/ol>\n<div class=\"cta-row\" style=\"margin-top:26px\"><button class=\"btn\" type=\"button\" data-quiz=\"q3\">Check answers<\/button><\/div>\n<p class=\"qscore\" id=\"q3_s\" hidden><\/p>\n<\/div><\/section>\n\n<section class=\"band band--ink\"><div class=\"wrap\">\n<div class=\"sec-head\"><h2>Practise it before it costs anything<\/h2>\n<p>A demo account runs the same platform on the same live prices, with nothing at stake.<\/p><\/div>\n<div class=\"cta-row\"><a class=\"btn\" href=\"\/uk\/demo-trading-account\/\">Open a demo account<\/a><\/div>\n<\/div><\/section>\n<footer class=\"wrap\"><div class=\"disclosure\"><ul class=\"licences\"><li>CMA \u00b7 United Arab Emirates<\/li><li>FSC \u00b7 Mauritius<\/li><li>CySEC \u00b7 Cyprus<\/li><li>FSA \u00b7 Seychelles<\/li><\/ul><p><strong>Trading CFDs and forex involves substantial risk of loss and is not suitable for all investors.<\/strong> Past performance is not indicative of future results. You should carefully consider whether trading is appropriate for you in light of your circumstances, knowledge and financial resources.<\/p><p>The Wisuno Academy is educational. Nothing in it is investment advice, a recommendation, or an opinion on whether trading suits you. Written and reviewed by the Wisuno research desk \u2014 <a href=\"\/uk\/academy\/editorial-standards\/\">editorial standards<\/a>.<\/p><\/div><\/footer>\n<\/div>\n<script>\ndocument.addEventListener('click',function(e){\n var b=e.target.closest('[data-quiz]'); if(!b) return;\n var box=document.getElementById(b.getAttribute('data-quiz')); if(!box) return;\n var qs=box.querySelectorAll('.qq'), right=0;\n qs.forEach(function(q){\n  var sel=q.querySelector('input:checked');\n  var ok=sel&&sel.value===q.getAttribute('data-a');\n  q.classList.remove('is-right','is-wrong');\n  q.classList.add(ok?'is-right':'is-wrong');\n  q.querySelector('.qf').hidden=false;\n  if(ok)right++;\n });\n var s=document.getElementById(b.getAttribute('data-quiz')+'_s');\n if(s){s.hidden=false;s.textContent=right+' of '+qs.length+' correct.';}\n},false);\n<\/script>\n","protected":false},"excerpt":{"rendered":"<p>Trading CFDs and forex involves substantial risk of loss and is not suitable for all investors. You should carefully consider whether trading is appropriate for you in light of your circumstances, knowledge and financial resources. Wisuno Academy LearnCoursesIntermediateAdvancedEditorial standards Course 3 of 5 \u00b7 Beginner \u00b7 10 min Orders, execution and market hours What each [&hellip;]<\/p>\n","protected":false},"author":7,"featured_media":0,"parent":37999,"menu_order":0,"comment_status":"closed","ping_status":"closed","template":"","meta":{"footnotes":""},"class_list":["post-38011","page","type-page","status-publish","hentry"],"lang":"en","translations":{"en":38011},"pll_sync_post":[],"_links":{"self":[{"href":"https:\/\/www.wisuno.com\/uk\/wp-json\/wp\/v2\/pages\/38011","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.wisuno.com\/uk\/wp-json\/wp\/v2\/pages"}],"about":[{"href":"https:\/\/www.wisuno.com\/uk\/wp-json\/wp\/v2\/types\/page"}],"author":[{"embeddable":true,"href":"https:\/\/www.wisuno.com\/uk\/wp-json\/wp\/v2\/users\/7"}],"replies":[{"embeddable":true,"href":"https:\/\/www.wisuno.com\/uk\/wp-json\/wp\/v2\/comments?post=38011"}],"version-history":[{"count":1,"href":"https:\/\/www.wisuno.com\/uk\/wp-json\/wp\/v2\/pages\/38011\/revisions"}],"predecessor-version":[{"id":38012,"href":"https:\/\/www.wisuno.com\/uk\/wp-json\/wp\/v2\/pages\/38011\/revisions\/38012"}],"up":[{"embeddable":true,"href":"https:\/\/www.wisuno.com\/uk\/wp-json\/wp\/v2\/pages\/37999"}],"wp:attachment":[{"href":"https:\/\/www.wisuno.com\/uk\/wp-json\/wp\/v2\/media?parent=38011"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}