How to Place a Pending Trading Order in MT4 Software

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

• Buy Stop Trading Order An order to buy at a level above the crude trading price.

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

Buy Entry and Sell Entry Trading 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 pattern but they do not want to wait and watch the prices all day long until there is a crude trading price breakout. Therefore, traders will set these pending orders above and below crude trading price and a crude trading price breakout in any of these direction will open one of these pending orders & a buy trade or a sell 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 crude price.

The crude trading price then went up to hit the buy stop order, & afterward crude trading price continued to move up-wardupwards.

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

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

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

Sell Stop Trading Order

In the example shown below a sell stop order was set to sell at a level below the current market crude price.

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

Setting a Sell Stop Trading Order Below a Support Level

Pending Sell Order Set in a Price Breakout

A Sell trade was generated from the above sell stop order after support line is broken after a consolidation oil setup.

How to tell the difference between stop orders & limit orders

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

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

Setting Buy & Sell Stop Orders in MetaTrader 4 Oil Software

Open a Trading Crude Oil Chart, Right-Click on the Chart, Choose New Order, then Follow the steps below

Step1: Choose Pending order as illustrated below

Step2: Select Pending order Menu as Show below

Step3: Select Buy Stop Trading Order or Sell Stop Trading Order

Step4: Click 'Place' Order

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