Placing Pending Orders

Pending order is the client's commitment to the brokerage company to buy or sell a security at a predefined price in the future. This type of pending orders is used for opening of a position in the future when quotes reach the predefined level.

Pending orders can be placed from the chart using Trading submenu of the chart's context menu:

- Select a symbol that you want to trade from the "Market Watch" window on the left side of your terminal and execute the " New Order" command of the menu.

- By pressing the <F9> shortcut keys, the order window will be opened according to the terminal settings.

After appearing the order window, by selecting “Pending order” from the drop down list of “Type” option, you will be able to manage your order as the following pictures show:

There are four types of pending orders available in the terminal:

These are orders which will be opened when the price reaches the mentioned level.

You must place "Buy Limit" below the market price, while "Sell Limit" is placed above the market price. You must place "Buy Stop" above the market price, while "Sell Stop" below market price.

The easiest way to set pending order is execution of “One click”:

- Right click on the chart and choose “Trading” option which allows you to set “Sell limit or Buy stop” orders (commands).

Also, MetaTrader 4 allows clients to modify or delete placed pending orders by clicking on the horizontal line (level) which has been triggered before.

That's all!

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