How to Place a Pending Order in MT4

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

• Buy Stop Order An order to buy at a point above the price.

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

Buy Entry and Sell Entry Orders

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

Buy Stop Order

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

The trading price then headed up to hit buy stop, & afterward trading price continued to move upwards.

Setting Buy Stop Order above Resistance Level - How to Place a Pending Order Buy Stop Order on MT4

Setting Buy Stop Order in a Breakout - How to Place a Pending Order Buy Stop Order on MT4

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

Sell Stop Order

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

The trading price then headed down to hit sell stop, & afterward the downwards trading price move continued

Setting a Sell Stop Order Below a Support Level

Pending Sell Order Set in a Price Break out

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

How to tell the difference between stop orders and limit orders

It's easier to first of all remember one concept. The easier concept is the one of Stop Orders are set above and below the price.

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

Setting Buy & Sell Stop Orders in MetaTrader 4 Platform Software

Open a Trading Chart, Right-Click on xauusd Chart, Choose New Order, then follow the guide-lines below

Step1: Choose Pending order as shown & illustrated below

Step2: Choose Pending order Menu as Show below

Step3: Choose Buy Stop Order or Sell Stop Order

Step4: Click 'Place' Order

Steps to Setting These Pending Orders in MT4 - How to Place a Pending Order on MT4