Install Pending Order

Pending order yaitu order to be executed if the price touches a point that we specify, in other words open a pending order means ordering to open a position at a certain price level. So when the price touches a predetermined level, then automatically we have an open trading position.

When you install a pending order, you actually tell the metatrader server "Please if the price is so ... I open this position ... (Buy / Sell)"

So the advantages of this pending order is you do not need to linger waiting in front of the trading screen to open a position.

Pending order there are 4 types, namely:

BUY STOP
Order to open a BUY position at a certain price higher than the current price, in the hope that if the graph reaches the price we specify, then the chart will continue to move up even higher, so we can get profit.

SELL STOP
This is the opposite of Buy Stop, Sell stop is ordering to open position at a certain price that is lower than current price. The hope is when the graph touches the price level we specify, then the price graph will continue to slide down. So the position of Sell Stop that we open can generate profit.

BUY LIMIT
That is ordering to open a BUY position at a certain price below the current price, in the hope that if the chart moves down and touches the price we specify, after which the chart will reverse direction up. Thus we managed to open a buy position at a very low price.
Roughly Buy Limit this can be said "Buy Kalo Harganya Murah"

SELL LIMIT
Simply put, order to open sell positions if the price reaches a certain level higher than the current price. The reason for opening the sell limit is we believe that after the price touched the level that you set, then the next price will reverse direction down. Thus the position of the sell that we order can generate profit.

How to install a pending order is actually very similar to opening a position as usual, the difference is when selecting Type, we must select Order Pending.

Here are the steps to install a pending order:

1. Click New Order / New Order

2. After the order form appears, to open the pending order of filling enough Select the currency to be transacted and select the trading volume first.

Then in the Type column please replace with Order Pending.

install pending order

 3. Select the Order Type Pending type

Once again the point:

* Buy limit, buy message at a price lower than the current price
* Buy stop, buy message at a price higher than the current price
* Sell limit, sell message at a price higher than the current price
* Sell stop, sell message at a price lower than the current price

4. Determine the price you want to open a buy or sell position

5. In the maturity column, you can empty it.

6. Click the PASS button (Place), then click OK on the confirmation window that appears.

Finish is how to install pending order, then you can modify pending opened to set Stoploss and Take Profit.

Note:
If in your order menu out the words "open price you set must differ from market price by at least 10 pips" it means your pending order is rejected because the price you want should be a minimum of 10 pips plus spread from current prices. Please reset and click PLACE again.

Hopefully explanation how to install this pending order can help.