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How to Place Pending Order - Forex Function

How to Place Pending Order

Last Update: 12 November,2014
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Pending Order :
It is an important tool or instruction of mt4. If any one wanna place a order at the support or resistance level but currently market is not on these level, then he/shee can place pending order rather then waiting.
Pending order will automatically open trade when price goes to the pending order position. There are four types of pending order like buy stop, sell stop, buy limit and sell limit.
 place pending order
How to place pending order:
1) Buy Stop:
Suppose that EURUSD current market price 1.3710 you want to BUY EURUSD when price will go up 1.3750. Then you can place a BUY STOP order at 1.3750. The Procedure is:

Click New Order > Select Order Type: Pending > Select Pending Order Type: Buy Stop > Set Your Buy Stop Point in at price > Click Place

 buystop

You can also set expiry date and time for your pending order. When you set these then your pending order will delete automatically in accordance with expiry date and time.

2)Sell Stop:
Suppose AUDNZD current market price is 1.0793 you want to SELL AUDNZD when price will go down at 1.0770. Then you can place a SELL STOP order at 1.0770.
The Procedure is:
Click New Order > Select Order Type: Pending > Select Pending Order Type: Sell Stop > Set Your Sell Stop Point in at price > Click Place
 sellstop

3) Buy Limit:
Assume that AUDUSD current market price is 0.9300 you want to BUY AUDUSD when price will go down at 0.9270. Then you can place a BUY LIMIT order at 0.9270. The Procedure is:

Click New Order > Select Order Type: Pending > Select Pending Order Type: BUY Limit > Set Your BUY Limit Point in at price > Click Place

 buylimit

4) Sell Limit:
Suppose USDJPY current market price is 101.55 you want to SELL AUDUSD when price will go up at 101.70 . Then you need to place a SELL LIMIT at 101.70 . The Procedure is:

Click New Order > Select Order Type: Pending > Select Pending Order Type: SELL Limit > Set Your Sell Limit Point in at price > Click Place

 selllimit


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