Entry Stop Bitcoin Orders Bitcoin Orders
These are trade orders to purchase above the bitcoin cryptocurrency market or to sell below the bitcoin trading market.
- Buy Stop BTC/USD Crypto Order An order to open buy position at a price above the btcusd trading market bitcoin price.
- Sell Stop Bitcoin Crypto Currency Order An order to sell at a level that is below the btcusd trading market bitcoin trading price.
Buy Entry & Sell Entry Bitcoin Orders
These transactions are often referred to as pending cryptocurrency orders. Traders dealing with BTCUSD utilize these pending orders when they want to engage in a trading strategy like the consolidation pattern without having to monitor bitcoin prices continuously for potential breakouts. As a result, bitcoin traders establish these pending orders above and below the current bitcoin price, and a breakout in either direction will trigger one of these pending orders, automatically executing either a buy bitcoin trade or a sell btcusd trade.
Buy Stop BTC/USD Crypto Order
In the bitcoin trading examples below, a buy stop order was used to buy at a price higher than the current bitcoin price.
The bitcoin price then rose and reached the buy stop bitcoin order, & after that the btcusd crypto price kept going higher up.
Procedures for Inputting a Pending Buy Order for Bitcoin (Buy Stop Crypto Order) on the MetaTrader 4 Terminal
Instructions for Setting a Buy Stop Pending Order for Bitcoin on the MT4 Software Platform
A buy bitcoin trade came from the order above. It happened when price broke resistance in the first chart. Or after an up breakout from consolidation.
Sell Stop BTC/USD Crypto Order
In the trading example below, a sell stop btcusd order was set to sell at a price that is less than the current bitcoin price.
Following a sell-stop order, the bitcoin price experienced a drop, continuing its downward trend thereafter.
The Procedure for Setting a Sell Stop Bitcoin Order as a Deferred Transaction on the MetaTrader 4 Interface
Setting a Pending Sell Order When a Bitcoin Price Breaks Out - How to Set a Pending Bitcoin Sell Stop Order on the MT4 Platform
A sell Bitcoin trade came from the sell-stop order. It triggered after the support broke in a consolidation pattern.
Distinguishing Between Cryptocurrency Stop Orders and BTCUSD Limit Orders
Recall one key point first. Stop bitcoin orders sit above or below the bitcoin price.
In the mean time Download MT4 platform and practice setting these orders on a practice demo account.
How to Place a Pending Order in MT4 Software Platform
Open a Bitcoin trading chart, right-click on it, choose “New Order,” and then just follow the steps below.
Step1: Choose Pending order like as shown and displayed below
Step 2: Pick the Pending Order Option Shown
Step3: Choose Buy Stop Bitcoin Order or Sell Stop Bitcoin Order
Step 4: Click 'Place' Order
Procedures for Establishing These Pending Bitcoin Orders on the MT4 Platform - A Tutorial on Setting a Pending Bitcoin Order in MT4
Access additional courses and resources:
- BTC USD Analyze Support Resistance Levels in a Downwards Bitcoin Trend
- MetaTrader No Connection MT4 Connection Bars
- Best Hours to Trade BTC USD
- BTC USD Major Resistance Levels vs BTC USD Major Support Levels
- BTC USD Trade Brokers BTC USD Accounts
- How to Analyze Marubozu Candle Patterns on Chart
- What's the Difference between Buy Limit BTC USD Order & Buy Stop BTC USD Order?
