Stock Orders - How to Place a Pending Stock Trading Order In MT4 - How to Place a Pending Stock Trading Order In MetaTrader 4
There are different types of stock trading orders which a stock trader can use to trade in Stock.
At the foundation of successful stock trading is making use of the correct stock trading order for its correct purpose. The most important things to remember about is this: Always understand the stock trading orders you place. Never place a stock trading order which you are not entirely knowledgeable about. Given below are the some basic definitions of the commonly used types of stock trading orders:
Types of Stock Trading Market Orders and Stock Trading Pending Stock Trading Orders
This is the most basic type of stock trading order, market order is used to buy or sell at the current ask or bid stock trading quote stock price. This refers to the quoted stock price that appears on your stock trading platform.
This type of stock trading order is used for buying or selling according to the present exchange rate quotation in Stock Trading, the execution is instant. The minute you want to enter a position you can buy and sell the stock trading instrument at a click of a button using a stock trading market order.
Entry Stock Trading Orders
These are stock trading orders used to open a new trade position after the stock trading market reaches a stock price specified by the stock trader.
Entry orders are used to buy or sell a stock trading instrument when it attains a certain stock price target.
When a specific stock price level is reached or broken then a stock trading entry order is executed.
These Entry Stock Trading Orders are used to enter a stock trading trade at a specified stock price level. It is almost impossible to monitor the stock trading market every second and this is why an entry order can be handy. If you feel the stock trading market may take a certain action, such as break through a particular stock price level that it has been touching but it has not been able to break, you would want to use an Entry Limit Stock Trading Order. Once the stock trading market crosses your specified level, your entry limit stock trade order is executed.
There are two types of entry orders - limit stock trading order and stop entry order.
These entry orders are also known as pending stock trading orders.
Entry Limit Stock Trading Order
An order to buy or sell at a certain limit.
An entry limit stock trading order can be used to buy below the current stock price or sell above the current stock price.
When buying, entry limit is executed when the stock trading price falls to your limit level.
When selling, entry limit is executed when the stock trading price rises to your limit level.
These Entry Limit Stock Trading Orders are placed by stock traders when they expect the stock trading market to bounce back after reaching the stock price level at which the entry limit was placed.
- Buy Limit Stock Trading Order
Specifies to buy at a level below the current market stock price
- Sell Limit Stock Trading Order
Specifies to sell at a level above the current market stock price
Entry Stop Stock Trading Order
An entry stop order to buy above the current stock price or to sell below the current stock price.
When buying, entry stop order is executed as the stock trading market goes up and hits the buy stop level.
When selling, entry stop order is executed as the stock trading market goes down and hits the sell stop level.
- Buy Stop Stock Trading Order
Specifies to buy at a level above the current market stock price.
- Sell Stop Stock Trading Order
Specifies to sell at a level below the current market stock price.