How Do You Set Buy StopOrder & Sell Stop Order on MetaTrader 5?

How Do I Set Buy Stop& Sell Stop Order on MetaTrader 5?

Setting Buy & Sell Stop Orders on MetaTrader 5 Trading

Open a trading Gold Chart - RightClick on Chart, Choose New Order, then follow steps below:

Step1: Choose Pending order as shown below

Step2: Select Pending order Menu as Show below

Step3: Choose Buy Stopor Sell Stop

Step 4: Press the 'Place' Order

Set Buy StopOrder and Sell Stop Order in MT5

Pending Orders

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

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

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

Set Buy StopOrder and Sell Stop Order in MetaTrader 5

These pending orders are used by traders wanting to trade a set-up like consolidation chart pattern but they don't want to wait & watch the prices all day long until there a price breakout. Hence traders will set these pending orders above & below price & a break out in any of these direction will execute one of these pending orders and a buy trade or a sell trade will automatically be opened.

Buy Stop

In the examples explained and shown below a buy stop pending was placed to buy at a level above ruling market price.

The price then went upto hit the order, and afterward price continued to move upwards.

Set Buy Stop& Sell Stop Order on MT5

Analyze & Set Buy StopOrder and Sell Stop Order in MetaTrader 5?

A Buy trade transaction was generated from above pending order when price broke a resistance line in first example & when there was an upward breakout after a market consolidation.

Sell Stop

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

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

Analyze & Set Buy Stopand Sell Stop Order in MetaTrader 5?

Analyze & Set Buy StopOrder and Sell Stop Order in MetaTrader 5?

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

Set Buy StopOrder and Sell Stop Order in MetaTrader 5

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