Entry Stop Trade Orders

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

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

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

Buy Entry and Sell Entry Orders

These orders are also known as pending orders. These pending orders are used by traders wanting to trade a set-up like consolidation chart pattern but they do not 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 the price and a price breakout 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 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 order, & afterwards price continued to move up-wardupwards.

Placing Buy Stop Order above Resistance Level - How to Place a Pending Order Buy Stop Order in MT4

Placing Buy Stop Order in a Breakout - How to Place a Pending Order Buy Stop Order in MT4

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 breakout after a market consolidation pattern.

Sell Stop Order

In the example illustrated and explained 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, and afterwards the downwards price move continued

Setting a Sell Stop Order Below a Support Level

Pending Sell Order Set in a Price Breakout

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

How to tell the difference between stop orders and 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 MetaTrader 4 platform and practice setting these orders on a Practice Demo Account.

Setting Buy & Sell Stop Orders in MetaTrader 4 Software

Open a Trading Stock Chart, Right-Click on Chart, Select 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 in MetaTrader 4 Software - How to Place a Pending Order in MetaTrader 4