How Do You Set Buy Stop Order & Sell Stop Order on MT5?
How Do You Set Buy Stop Order & Sell Stop Order in MetaTrader 5?
Setting Buy and Sell Stop Orders in MT5
Open a trading Chart - Right-Click on the Chart, Choose New Order, then follow guidelines below:
Step1: Select Pending order as illustrated and described below
Step2: Select Pending order Menu as Show below
Step3: Select Buy Stop or Sell Stop
Step 4: Click the 'Open' Order
How Do You Place Buy Stop Order and Sell Stop Order in MT5?
Pending Stop Orders
These are pending orders to buy above the market or to sell below the market.
- Buy Stop Order An order to open buy at a level that is above the market price.
- Sell Stop Order An order to sell at a level below market price.
How Do You Place Buy Stop Order and Sell Stop Order in MT5?
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 a price breakout. Therefore traders will set these pending orders above and below the price & a break out in any of these direction will open one of these pending orders and a buy trade or a sell trade will automatically be executed & opened.
Buy Stop Trade Order
In the examples shown below a buy stop order was placed to buy at a level above the current market price.
The price then moved upward to hit order, and afterwards price continued to move upwards.
How Do I Place Buy Stop Order & Sell Stop Order in MT5?
How Do You Place Buy Stop Order and Sell Stop Order in MT5?
A Buy trade was generated from above pending order when the price broke a resistance line in first example & when there was an upward break out after a market consolidation.
Sell Stop Order
In the example below a sell stop order was placed to sell at a level below the current market price.
The price then went downwards to hit the order, & afterwards the downward move continued
How Do You Place Buy Stop Order & Sell Stop Order on MetaTrader 5?
How Do I Place Buy Stop Order & Sell Stop Order on MetaTrader 5?
A Sell trade was generated from the above pending sell stop order after support line is broken after a consolidation pattern setup.
How Do I Place Buy Stop Order & Sell Stop Order in MT5?
