How Do I Analyze a Buy Limit Order in Forex Trading?
How Do You Trade a Buy Limit Order?
The example below explains how to set a buy limit order in MT4 software.
A buy limit order in forex is an order to buy at a better price after the price has retraced.
A buy limit order is a pending order.
Setting Buy Limit Orders Pending Orders in MT4
To setup these buy limit orders in the MetaTrader 4 use the following procedure:
- Right-click on the chart
- Select 'Trading' Option on the Trading Menu
- Then Select 'New' Order Option on the Pop up trade order widow which pops up
- Then on the trade setup popup window that pops up -shown below, under label 'Type' of order select the option of Forex "Pending Order" instead of 'market execution' order
- Under the pending order options select the pending order type: for this trade choose "Buy Limit" pending order so as to place a pending buy limit order & after which specify the price at which you want the buy limit pending order executed.
How Do I Analyze Buy Limit Order in FX Trading?
How Do I Analyze Buy Limit Order in FX Trading?
