How Do I Set Buy Stop and Sell Stop in MetaTrader 4? - Buy Stop vs Sell Stop in MT4

How to Set Buy Stop Orders & Sell Stop Orders in MetaTrader 4

Setting Buy & Sell Stop Orders in MetaTrader 4

Open a Forex trading FX Trading Chart - Right-Click on the Forex Chart, Select New Order, then Follow the steps below:

Step1: Choose Pending order as illustrated and illustrated below

Step2: Choose Pending order Menu as Show below

Step3: Select Buy Stop or Sell Stop

Step4: Click 'Place' Order

Steps to Setting Pending Forex Orders in MT4

Entry Stop Orders Forex Orders - Pending Forex Orders

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

• Buy Stop Forex OrderAn order to buy at a level above the market price.

• Sell Stop FX OrderAn order to sell at a level below market price.

Buy Entry & Sell Entry Order - Forex Pending Orders

These 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 forex price breakout. Therefore traders will set these pending orders above & below the price & a break out in any of these direction will execute one of these pending orders and a buy forex trade or a sell FX trading trade will automatically be opened.

Buy Stop Forex Trading Order

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

The price then went up to hit the order, and afterwards the forex price continued to move upwards.

Placing Buy Stop Order above Resistance Level - Buy Stop Pending Forex Order

Placing Buy Stop Order in a Forex Breakout - Buy Stop Pending Forex Order

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

Sell Stop FX Trading Order

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

The price then went down to hit the order, and afterwards the downward move continued

Setting a Sell Stop Order Below a Support Level - Sell Stop Pending Forex Order

Pending Sell Order Set in a Price Breakout - Sell Stop Pending Forex Order

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