Entry Stop Orders Orders - How to Place a Pending Order on MT4 Platform

Buy Stop Orders & Sell Stop Orders are entry stop pending orders that are provided for on the platform. traders can then use the platform to set these stop orders on the charts. This tutorial will explain what are entry stop pending orders - buy stop order and sell stop order. This tutorial will also explain how to use the platform software to set these pending stop orders when trading with charts.

Entry Stop Pending Orders are orders to buy above the market or to sell below the market.

• Buy Stop Order An order to open buy at a point above the market price.

• Sell Stop FX Order An order to sell at a point below the market price.

Buy Entry & Sell Entry Orders

These orders are also known as pending orders. Entry stop pending orders are used by traders wanting to trade a setup like consolidation chart pattern but they don't want to wait and watch the prices all day long until there is a price breakout. Therefore, traders will set these pending orders above and below price and a price break-out in any of these direction will open one of these pending orders and a buy trade or a sell trade will then automatically be opened.

Buy Stop Order

In the examples below a buy stop order was placed to buy at a level above the current market price.

The price then went up to hit the buy stop order, & afterward price continued to move upward.

Placing Buy Stop Order above Resistance Level - How to Place a Pending Order Buy Stop Order in MT4 Platform

Placing Buy Stop Order in a Forex Breakout - How to Place a Pending Order Buy Stop Order in MT4 Platform

A Buy trade was generated from the above order when the price broke a resistance line in the first example and when there was an upward price break out after a market consolidation pattern.

Sell Stop FX Trade Order

In the example below a sell stop order was placed to sell at a level below the current market price.

The price then went down to hit the sell stop order, and afterward the downwards price move continued

Setting a Sell Stop Order Below a Support Level - How to Place a Pending Order Sell Stop Order on MT4 Platform

Pending Sell Order Set in a Price Breakout - How to Place a Pending Order Sell Stop Order on MT4 Platform

A Sell trade was generated from the above sell stop order after support line is broken after a forex consolidation pattern setup.

How to Differentiate Between Pending Stop Orders & Pending Limit Trade Orders

It's easier to first of all remember one concept. The easier concept is that of Stop Orders are set above and below the price.

In the mean time Download MT4 platform and practice setting these orders on a Practice Demo Account.

Setting Buy & Sell Stop Orders on MT4 - How to Place a Pending Order on MetaTrader 4 Platform

Open a Trading Trading Chart, Right-Click on Chart, Select New Order, then Follow the steps below

Step1: Choose Pending order as shown and illustrated below

Step2: Select Pending order Menu as Show below

Step3: Select Buy Stop or Sell Stop

Step4: Click 'Place' Order

Steps to Setting Entry Stop Pending Orders in MT4 - How to Place a Pending Order on MT4 Explained