XAUUSD Place a Pending Order on MetaTrader 5 iPhone App XAUUSD App
XAUUSD Place a Pending Order on MetaTrader 5 iPhone App XAUUSD Mobile App
There are different types of orders which a trader can use to trade in XAUUSD.
Traders should learn and understand about all the various orders so as make use of correct order for the correct purpose. The most important things to remember about is this: Always understand orders you as a trader place when trading gold. Never place a order which you are not entirely knowledgeable about. Given below are the basic definitions of the oftenly used types of trading orders:
Types of Market Orders and Types of XAUUSD Pending Orders
Gold Trade Market Order
This is the most basic type of order, market order is used to buy or sell at current request quote or bid quote price. This refers to the quoted price which pops up on your xauusd software.
This type of order is used for buying or selling according to the prevailing exchange rate quotation in XAUUSD Market, the execution is instant. The min you want to enter a position you can buy & sell xauusd at a click of a button using a trading market order.
Pending Orders
These are orders used to open a new trade after the market reaches a price given by trader.
Pending orders are used to buy or sell gold when it gets to a certain price target.
When a specific price level is reached or broken then a gold entry order is executed.
These XAUUSD Pending Orders are used to enter a trade at a particular price level. It's almost impossible to monitor the market every second & this is why a gold entry order can be handy. If you feel the market might take a certain action, such as break through a particular price level which it has been touching but it has not been able to break out, you would want to use a XAUUSD Pending Limit Order. Once the market crosses your given level, your entry limit trading order is executed.
There are 2 types of entry orders - limit order & stop entry order.
These entry orders are also referred to as pending trade orders.
Gold Trade Pending Limit Order
An order to buy or sell at a particular limit.
An entry limit order can be used to open buy below the prevailing price or sell above the prevailing price.
When buying, gold entry limit is executed when the price drops to your limit level.
When selling, gold entry limit is executed when the price rises to your limit level.
These XAUUSD Pending Limit Orders are placed by traders when they expect market to bounce back after reaching to the price level that the trading entry limit order was set.
- Buy Limit Gold OrderSpecifies to open buy at a level that is below the prevailing market price
- Sell Limit OrderSpecifies to open sell at a level that is above the prevailing market price
Pending Orders
A entry stop order to open buy above prevailing price or to open sell below the prevailing price.
When buying, xauusd entry stop pending order is executed as the market goes upward and touches buy stop level.
When selling, xauusd entry stop pending order is executed as the market moves down and touches the sell stop level.
- Buy Stop OrderSpecifies to open buy at a level that is above the prevailing price.
- Sell Stop XAUUSD OrderSpecifies to open sell at a level that is below the prevailing price.
Set a Pending Order on MetaTrader 5 iPhone App XAUUSD App
