Trade Gold Trading

How Do I Place & Set a Pending Order on MT4 Android App

There are different types of trading orders which one can use to trade in XAUUSD.

Traders should learn and understand about all the different orders so as make use of the correct order for the correct intended purpose. Most important things to remember about is this: Always understand orders you set when gold trading. Never place a order which you're not entirely knowledgeable about. Given and Listed below are the basic meanings of the often used types of trade orders:

Types of Market Orders and Pending Order Types

Trading Market Order

A market order is the simplest type of trade instruction, allowing you to buy or sell immediately based on the prevailing ask or bid price displayed on your platform.

This type of trade order is used for buying/selling according to the ruling exchange rate quote in Market, the execution is instant. The min you want to enter a position you can buy & sell gold at a click of a button using a trading market order.

Pending Orders

These specific instructions are designed to initiate a new trade contingent upon the market reaching a price point previously defined by the trader.

Entry orders are used to buy or sell gold when it attains a certain price target.

When a specific price level is reached and attained or broken then a trade entry order is entered.

These Gold Entry Orders are designed to facilitate opening a trade precisely when the market reaches a pre-determined price level. Because continuous, second-by-second market monitoring is practically unfeasible, a gold entry order proves highly beneficial. If you anticipate that the market is likely to execute a specific movement, perhaps breaking through a price barrier it has tested repeatedly without success, a Gold Entry Limit Order is the appropriate tool to employ. Once the market price touches your defined threshold, your pending trade instruction is automatically submitted to the market.

Entry orders are categorized into two distinct formats: limit orders and stop orders.

These entry orders are also known as pending xauusd trade orders.

Gold Entry Limit Order

An order to buy or sell at a certain limit.

A limit order placed to enter a trade can be utilized for buying beneath the prevailing price or selling above the going market rate.

For buys, a gold limit order triggers when price hits your set level.

For Gold Sales, Entry Limit Orders Trigger When Price Hits Your Set Level.

Gold limit orders wait for a bounce at your price. Traders place them expecting a reversal up.

  • Buy Limit Specifies to execute buy at a level below the ruling price

  • Sell LimitSpecifies to open sell at a level above ruling price

How to Set Buy Stop and Sell Stop Orders on MT4 Phone App – Step-by-step guide for pending orders on the MT4 Android app.

Pending Orders

A stop order to enter a buy position above the current price or to sell below that price.

When executing a buy, a pending gold entry stop order is activated or opened once the market advances to and touches the specified buy stop level.

When selling, the gold entry stop order starts when the market goes down and reaches the sell stop level.

  • Buy Stop Specifies to open buy at a level above current price.

  • Sell Stop Specifies to execute sell at a level below the prevailing market price.

How to Put Buy Stop Order and Sell Stop Order in MT4 Android App - How Do I Set a Pending Order on MT4 Android Phone App - Pending Order MT4 Android App

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