In forex trading, “at best” refers to an order execution instruction given by a trader to their broker. When a trader places an order “at best,” they are instructing their broker to execute the trade at the best possible price available in the market at the time the order is executed. This means that the trader is willing to accept the current market price, whether it is higher or lower than the current quoted price, in order to enter or exit a trade quickly.
An “at best” order may be useful in fast-moving markets, where prices can change rapidly, as it allows traders to enter or exit positions quickly without having to wait for a specific price to be reached. However, it also carries the risk of slippage, which occurs when the order is executed at a price that is different from the expected price. This can happen in volatile markets or when there is a sudden change in market conditions. As with all trading orders, it is important for traders to understand the risks involved with “at best” orders and use them judiciously.