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Entry Stop Orders Forex 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 the market price.

 

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

 

Sell Entry Stop and Buy Entry Stop Orders

Buy Entry and Sell Entry

 

These orders are used by traders wanting to trade a setup like the consolidation but they do not want to wait and watch the prices all day long until there is a price breakout. Therefore traders will set these orders above and below the price and a breakout in any of these direction will execute one of these orders and 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 price.


The price then went up to hit the order, and afterwards price continued to move upwards.

Setting Buy Stop Order above Resistance Level

Setting Buy Stop Order above Resistance Level

 

Setting Buy Stop Order in a Forex Breakout

Setting Buy Stop Order in a Forex Breakout

 

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

 

 

Sell Stop Order

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

 

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

Setting a Sell Stop Order Below a Support Level

Setting a Sell Stop Order Below a Support Level

 

Sell Stop Order Set in a Forex Breakout

Pending Sell Order Set in a Price Breakout

 

A Sell was generated from the above order after support line is broken after a consolidation.

 

 

How to differentiate between stop orders and 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 MetaTrader 4 platform and practice setting these orders on a Practice Demo Account.

 

Setting Buy and Sell Stop Orders on Metatrader4 Platform

Open a Trading Chart, Right Click on the Chart, Select New Order, then Follow the steps below

Step1: Select Pending order as shown below

Step2: Select Pending order Menu as Show below

Step3: Select Buy Stop or Sell Stop

Step4: Click "Place" Order

Setting Buy Stop and Sell Stop Orders on Metatrader4 Platform

Steps to Setting These Orders on Metatrader4 Platform

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