One of the basic order types available in MT4 is the pending order, which includes both limit and stop orders.
Placing a pending order in MT4
One of the basic order types available in MT4 is the pending order, which includes both limit and stop orders.
This article explains how to place orders in MT4.
How to place a pending order (limit or stop) in MT4
To place a new limit or stop order in MT4, click on “New Order” in the top-left corner of the MT4 screen. This opens the “Order” window.
In the order entry screen, select or enter the following:
- Symbol
- Size (number of lots)
- Type: “Pending order” (for either limit or stop)
Once you have entered these parameters, choose one of the following order types under “Type” at the bottom of the window:
- Buy Limit (order to buy at a price below the current market price)
- Sell Limit (order to sell at a price above the current market price)
- Buy Stop (order to buy once price rises above the current market price)
- Sell Stop (order to sell once price falls below the current market price)
Then, enter the required price, select the “Expiry” date and time, and click “Place” to submit the order.
You can also set take-profit and stop-loss levels when placing the order.
In the “Order” window, simply enter your preferred values in the “Stop Loss” and “Take Profit” fields.
