Entry Stop Orders Orders

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

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

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

Buy Entry & Sell Entry Orders

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

Buy Stop Order

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

The price then went up to hit the buy stop order, and afterwards price continued to move up-wardupwards.

How to Place a Pending Order Buy Stop Order on MetaTrader 4

How to Place a Pending Order Buy Stop Order on MetaTrader 4

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

Sell Stop Order

In the example explained and shown below a sell stop order was placed to sell at a level below the current market xagusd price.

The price then went down to hit the sell stop order, and afterwards the downwards price move continued

How to Place a Pending Order Sell Stop Order on MetaTrader 4

Pending Sell Order Set in a Price Breakout - How to Place a Pending Order Sell Stop Order on MetaTrader 4

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

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 Orders are set above and below the price.

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

How to Place a Pending Order on MT4

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

Step1: Choose Pending order as shown below

Step2: Select Pending order Menu as Show below

Step3: Select Buy Stop Order or Sell Stop Order

Step4: Click "Place" Order

Steps to Setting These Pending Orders on MT4 Software - How to Place a Pending Order on MetaTrader 4