How to Place a Pending Metal Order on MetaTrader 4 Software
These are metals trade orders to buy above the metal market or to sell below the metal market.
- Buy Stop Metals OrderAn order to buy at a level above the metal market metals price.
- Sell Stop Metals OrderAn order to sell at a level below the metal market metals price.
Buy Entry and Sell Entry Metals Orders
These metals orders are also known as pending metals orders. These pending metals orders are used by traders wanting to trade a set-up like consolidation metal pattern but they do not want to wait & watch the metals prices all day long until there is a metals price breakout. Therefore, metals traders will set these pending metals orders above & below the metals price & a metals price breakout in any of these direction will execute one of these pending metals orders & a buy metals trade or a sell metal trade will automatically be opened.
Buy Stop Metals Order
In the metals trading examples below a buy stop metals order was placed to buy at a level above the current market metals price.
The metals price then went up to hit the buy stop metals order, & afterwards metals price continued to move upwards.
Placing Buy Stop Metals Order above Resistance Level - How to Place a Pending Metals Order Buy Stop Metals Order in MetaTrader 4 Platform
Placing Buy Stop Metals Order in a Metal Breakout - How to Place a Pending Metals Order Buy Stop Metals Order on MetaTrader 4 Platform
A Buy metals trade was generated from the above order when the metals price broke a resistance line in the first example and when there was an upward metals price breakout after a market consolidation pattern.
Sell Stop Metal Order
In the metal trading example illustrated and explained below a sell stop metals order was placed to sell at a level below the current market metals price.
The metals price then went down to hit the sell stop metals order, & afterwards the downwards metals price move continued
Setting a Sell Stop Metals Order Below a Support Level
Pending Sell Order Set in a Metals Price Break-out
A Sell metals trade was generated from the above sell stop metals order after support line is broken after a consolidation metals trading chart pattern.
How to differentiate between stop Metals orders & limit Metal orders
It is easier to first of all remember one concept. The easier concept is that of Stop Metals Orders are set above and below the metals price.
In the mean time Download MT4 platform & practice setting these orders on a Practice Demo Account.
Setting Buy and Sell Stop Metals Orders on MT4 Platform
Open a Trading Metal Chart, Right Click on metals trading Chart, Choose New Order, then Follow the steps below
Step1: Select Pending order as illustrated & shown below
Step2: Select Pending order Menu as Show below
Step3: Select Buy Stop Metals Order or Sell Stop Metals Order
Step4: Click 'Place' Order
Steps to Setting These Pending Metals Orders in MetaTrader 4 Platform - How to Place a Pending Metals Order on MetaTrader 4 Platform
