How to Place a Pending Order in MetaTrader 4

There are different types of silver orders which a trader can use to trade in Silver.

At the foundation of successful silver trading is making use of the correct order for its correct purpose. Most important things to remember about is this: Always understand orders you place. Never place a order which you as a trader are not entirely knowledgeable about. Given below are the some basic definitions of the commonly used types of trade orders:

Types of Market Orders and Pending XAGUSD Orders

Market Order

This is the most basic type of silver order, market order is used to buy or sell at current ask or bid quote price. This refers to the quoted price which appears and is shown & displayed on your platform.

This type of order is used for buying or selling according to the present exchange rate quotation in Silver Trading, the execution is instant. The min you want to enter a position you can buy and sell silver at a click of a button using a market order.

Entry Orders

These are orders used to open a new trade after the market reaches a price specified by the trader.

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

When a specific price level is reached or broken then a xagusd entry order is executed.

These Entry Orders are used to enter a trade at a specified price level. It is almost impossible to monitor the market every second and this is why an entry order can be handy. If you feel the market may take a certain action, such as break through a specific price level that it has been touching but it has not been able to break, you would want to use an Entry Limit Order. Once the market crosses your specified level, your entry limit trade order is executed.

There are 2 different types of entry orders - limit trading order and stop entry order.

The entry orders are also referred to as pending orders.

Entry Limit Order

An order to buy or sell at a certain limit.

An entry limit trading order can be used to buy below the current price or sell above the current price.

When buying, entry limit is executed when the price drops to your limit zone that you have set.

When selling, entry limit is executed when the price rises to your limit zone that you've set.

The Entry Limit Orders are placed by traders when they expect the market to bounce back after reaching the price level at which the entry limit was placed.

• Buy Limit OrderSpecifies to buy at a level below the current market price

• Sell Limit OrderSpecifies to sell at a level above the current market price

How to Set Buy and Sell Stop Trade Order on MT4 Software - How to Place a Pending Order on MT4

Entry Stop Order

An entry stop order to buy above current price or to sell below the current price.

When buying, entry stop order is executed as the market goes up & hits the buy stop level.

When selling, entry stop order is executed as the market goes down and hits the sell stop level.

• Buy Stop OrderSpecifies to buy at a level above the current market price.

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

How to Set Buy and Sell Stop Trade Order on MT4 Software - How to Place a Pending Order on MT4