Entry Stop Orders Orders - How to Place a Pending Order in MT4

Buy Stop Orders & Sell Stop Orders are entry stop pending orders that are provided for on the platform. Traders can then use the platform to set these stop orders on the charts. This tutorial will explain what are entry stop pending orders - buy stop order and sell stop order. This tutorial will also explain how to use the platform software to set these pending stop orders when trading with charts.

Entry Stop Pending Orders are orders to buy above the market or to sell below the market.

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

• Sell Stop Order An order to open sell at a level below market price.

Buy Entry & Sell Entry Orders

These orders are also known as pending orders. Entry stop pending orders are used by traders wanting to trade a set up like the consolidation chart pattern but they don't want to wait & watch the prices all day long until there is a price breakout. Therefore, traders will set these pending orders above and below price & a price breakout in any of these direction will execute one of these pending orders & a buy trade or a sell trade will automatically be opened.

Buy Stop Order

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

The price then went up to hit the buy stop pending order, and afterward price continued to move up-wardupwards.

Placing Buy Stop Order above Resistance Level - How to Place a Pending Order Buy Stop Order in MetaTrader 4

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

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

Sell Stop Order

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

The price then went down to hit the sell stop order, & afterward the downwards price move continued

Setting a Sell Stop Order Below a Support Level - How to Place a Pending Order Sell Stop Order in MetaTrader 4

Pending Sell Order Set in a Price Breakout - How to Place a Pending Order Sell Stop Order in MetaTrader 4

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

How to Differentiate Between Pending Stop Orders & Pending 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 in MT4 - How to Place a Pending Order in MT4

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

Step1: Select Pending order as illustrated below

Step2: Select Pending order Menu as Show below

Step3: Select Buy Stop or Sell Stop

Step4: Click "Place" Order

Steps to Setting Entry Stop Pending Orders in MT4 - How to Place a Pending Order in MT4 Explained