How to Place a Pending Order on MT4 Platform

These are gold 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 trading price.

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

Buy Entry & Sell Entry Gold Orders

These gold 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 until there's a trading price breakout. Therefore, traders will set these pending orders above and below price & a trading price break-out in any of these direction will open one of these pending orders & a buy gold trade or a sell gold trade will automatically be opened.

Buy Stop Order

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

The trading 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 Meta Trader 4

Setting Buy Stop Order in a XAUUSD Breakout - How to Place a Pending Order Buy Stop Order in Meta Trader 4

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

Sell Stop Order

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

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

Setting 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 is that of Stop Orders are set above and below the trading price.

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

Setting Buy and 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

Step4: Click "Place" Order

Steps to Setting These Pending Orders on MT4 - How to Place a Pending Order in Meta Trader 4