How to Place a Pending Order in MT4

These are trade 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 are also known 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 until 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 went up to hit the buy stop order, and afterward trading price continued to move upwards.

Setting Buy Stop Order above Resistance Level - How to Place a Pending Order Buy Stop Order on MetaTrader 4

Setting Buy Stop Order in a Breakout - How to Place a Pending Order Buy Stop Order on MetaTrader 4

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 went down to hit the sell stop order, & 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 & 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 MT4 platform & practice setting these orders on a Practice Demo Account.

Setting Buy and Sell Stop Orders on MetaTrader 4 Platform

Open a Trading Chart, Right-Click on xauusd Chart, Choose New Order, then Follow the steps below

Step1: Select Pending order as illustrated & shown below

Step2: Select Pending order Menu as Show below

Step3: Select 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