How to Place a Pending Order on MT4 Platform

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

• Buy Stop Order An order to open buy at a point above the price.

• Sell Stop Order An order to sell at a point below the price.

Buy Entry and Sell Entry Orders

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

Buy Stop Order

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

The price then went up to hit the buy stop order, & afterward price continued to move up-ward.

Setting Buy Stop Order above Resistance Level - How to Place a Pending Order Buy Stop Order on MetaTrader 4

How to Place a Pending Order Buy Stop Order on MetaTrader 4

A Buy stock 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 breakout after a market consolidation pattern.

Sell Stop Order

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

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

How to Place a Pending Order Sell Stop Order on MetaTrader 4

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

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

How to tell the difference between stop orders & limit orders

It's 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.

How to Place a Pending Order on MT4 Software

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

Step1: Choose Pending order as shown below

Step2: Select Pending order Menu as Show below

Step3: Select Buy Stop Order or Sell Stop Order

Step4: Click 'Place' Order

Steps to Setting These Pending Orders on MT4 - How to Place a Pending Order on MetaTrader 4