Trading Bitcoin Set Buy Limit Bitcoin Order & Sell Limit Bitcoin Order on MT4
Buy Limit Bitcoin Order & Sell Limit Bitcoin Order MT4 Pending Bitcoin Orders
Pending Bitcoin Orders in MT4 Software
To set up these crypto pending cryptocurrency orders in MetaTrader 4 platform, Right click on Bitcoin Trading chart>>> Select 'Trading'>>> Then Select 'New'>>> Then on the window popup that appears (illustrated and shown below), under the label 'Type' choose the option of 'pending' instead of 'market execution'>>> Under the pending cryptocurrency trading order options select the pending cryptocurrency order type: for This trade choose either "Buy Limit Bitcoin Order" or "Sell Limit BTCUSD Order" depending on whether you want to set a pending buy or sell order.
Pending Crypto Orders - Setting Buy & Sell Limit Crypto Orders on MetaTrader 4
Limit order definition - Entry limit is an order to buy or sell a Bitcoin Trading at a certain bitcoin trading price which is a retracement level where bitcoin price is predicted to pull back to before resuming the original Crypto trend. Bitcoin traders use them to buy or sell at better market bitcoin trading price. These types of pending cryptocurrency orders are provided for in most online bitcoin trading softwares, for our example we will be using the MT4 bitcoin trading software.
An entry pending bitcoin order of this type can be used to buy below the btcusd trading market level (up bitcoin trend market retracement) or sell above the btcusd trading market level (down bitcoin trend Bitcoin Trading market retracement).
Buy limit Order - When buying, your entry buy limit is executed when the btcusd trading market falls to your set bitcoin trading price. ( price retraces down )
Sell limit Order - When selling, your entry sell limit is executed when the btcusd trading market rises to your set bitcoin price. ( price retraces up )
Entry crypto orders or pending cryptocurrency orders are placed by bitcoin traders when they expect bitcoin trading price to bounce back after reaching this zone.
- Entry Buy Limit Bitcoin Orderbuy at a level below the current market level.
- Entry Sell Limit Bitcoin Ordersell at a level above the current market level.
Buy Limit Bitcoin Order Example
In the cryptocurrency trading example illustrated below, the buy limit bitcoin order was placed to buy at a bitcoin trading price below the current market bitcoin trading price. Point B is the point at which it was set.
Limit buy order entry placed to buy below the current market bitcoin trading price
The bitcoin trend then retraced and went down to hit the buy entry limit, & afterwards bitcoin trading price continued to move upward in direction of the original Bitcoin Trading upwards cryptocurrency trend. When limit buy order was hit it changed in to a buy.
Bitcoin Price hits buy limit, buy limit bitcoin order now changes to a buy order
Sell Limit BTCUSD Order Example
In the sell limit pending bitcoin order example illustrated below a the sell entry limit was placed to sell at a bitcoin price above the current market bitcoin price. This is the level for the bitcoin trading price retracement.
Entry limit sell order placed to sell above the current market bitcoin trading price
The bitcoin trend then rallied, went up to hit the sell entry limit, & afterwards bitcoin trading price continued to move downward in direction of the original Bitcoin downwards trend.
Bitcoin Price hits sell limit, sell limit bitcoin order now changes to a sell order
When bitcoin quote got to the set level the trading order changed in to a sell, this is therefore a nice technique to buy or sell at a better bitcoin price after a price retracement.
