How Do I Place a Pending Order on MT4 Platform

These are orders to buy above the market or to sell below the market.

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

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

Buy Entry & Sell Entry Orders

These orders are also known as pending orders. These pending orders are used by traders wanting to trade a set up like the consolidation chart pattern but they don't want to wait & watch the prices all day long til there's a price breakout. Therefore, traders will set these pending orders above & below price & a price break-out in any of these direction will open one of these pending orders & a buy trade or a sell gold trade will 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, and afterward price continued to move upward.

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

Setting Buy Stop Order in a Breakout - How to Place a Pending Order Buy Stop Order in MT4

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

Sell Stop Order

In the example illustrated & explained below a sell stop order was set to sell at a level below the current market price.

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

Placing a Sell Stop Order Below a Support Level

Pending Sell Order Set in a Price Break out

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

How to differentiate between stop orders & limit orders

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

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

Setting Buy & Sell Stop Orders in Meta Trader 4 Trading Platform

Open a Trading Chart, Right-Click on gold Chart, Choose New Order, then follow the steps below

Step1: Select Pending order as illustrated below

Step2: Choose Pending order Menu as Show below

Step3: Choose Buy Stop Order or Sell Stop Order

Step 4: Click on "Place" Order

Steps to Setting These Pending Orders on MT4 - How to Place a Pending Order in MT4