How to Place a Pending Order in MetaTrader 4

There are different types of stock orders which a trader can use to trade in Stock Indices.

At the foundation of successful stock indices is making use of the correct stock order for its correct purpose. Most important things to remember about is this: Always understand the stock orders you place. Never place a stock order which as a trader you are not entirely knowledgeable about. Given below are the some basic definitions of the commonly used types of trading orders:

Types of Market Orders & Pending Orders

Market Stock Trade Order

This is the most basic type of stock order, market order is used to buy or sell at the current ask or bid stock indices quote price. This refers to the quoted price that appears on your stock platform.

This type of stock order is used for buying or selling according to the present exchange rate quotation in Stock Indices, the execution is instant. The min you want to enter a position you can buy & sell the stock index at a click of a button using a market order.

Entry Orders

These are stock orders used to open a new trade position after the stock market reaches a price specified by the trader.

Entry orders are used to buy or sell a stock indices instrument when it attains a certain price target.

When a specific price level is reached or broken then a stock index trading entry order is executed.

These Entry Orders are used to enter a stock trade at a specified price level. It is almost impossible to monitor the stock market every second and this is why an entry order can be handy. If you feel the stock market might take a certain action, such as break through a specific price level that it has been touching but it hasn't been able to break, you would want to use an Entry Limit Order. Once the stock market crosses your specified level, your entry limit trading order is executed.

There are 2 different types of entry orders - limit stock order & stop entry order.

The entry orders are also known as pending trading orders.

Entry Limit Order

An order to buy or sell at a specific limit.

An entry limit stock order can be used to buy below the current price or sell above the current price.

When buying, entry limit is executed when price falls to your limit zone.

When selling, entry limit is executed when the price rises to your limit level.

The Entry Limit Orders are placed by traders when they expect the stock market to bounce back after reaching the price level at which the entry limit was placed.

• Buy Limit OrderSpecifies to buy at a level below the current market price

• Sell Limit OrderSpecifies to sell at a level above the current market price

How to Set Buy & Sell Stop Order Trades in MT4 - How to Place a Pending Order on MT4

Entry Stop Order

An entry stop order to buy above the current price or to sell below the current price.

When buying, entry stop order is executed as the stock market goes upward & hits buy stop level.

When selling, entry stop order is executed as the stock market moves down & hits the sell stop level.

• Buy Stop OrderSpecifies to buy at a level above the current market price.

• Sell Stop OrderSpecifies to sell at a level below the prevailing market price.

How to Set Buy & Sell Stop Order Trades in MT4 - How to Place a Pending Order on MT4