4 Types of Pending Orders in Trading Forex - Types of Pending Order in Forex Trading

• Buy Limit Order Specifies to buy at a level below the current forex market price

• Sell Limit Forex Trading Order Specifies to sell at a specified level above the current market price

• Buy Stop FX Trading Order Specifies to buy at a level above the current forex market price.

• Sell Stop Forex Trading Order Specifies to sell at a level below the current forex market price.

Limit FX Orders and Stop Forex Trading Orders

Pending Orders are forex orders which are used to open a new forex trade position after the market reaches a price specified by the trader.

Pending Orders are used to buy or sell when price quote attains a certain price target.

When a specific forex price level is reached then a forex pending order is executed.

Forex Pending Orders are used to enter a forex trade at a specified price level. It is almost impossible to monitor the forex market every second and this is why a forex pending order can be used. If you feel the forex market may take a certain action, such as break through a specific forex price level that it has been touching but it has not been able to break this level, then as a trader you would want to use a Forex Pending Order. Once the forex price quote crosses your specified level, your pending order is executed.

There are 2 types of pending orders - forex limit order & forex stop order.

These forex pending orders are also known as forex entry orders.

Limit FX Order

An order to buy or sell at a specific limit.

An forex pending limit order can be used to buy below the current forex price quote or sell above the current forex price quote.

When buying, forex pending limit order is executed when the price falls to your limit forex price quote area.

When selling, forex pending limit order is executed when the price rises to your limit forex price quote area.

These Forex Limit Orders are placed by traders when they expect the forex price to bounce back after reaching the forex price quote level at which the pending limit order was placed.

• Forex Buy Limit Order Specifies to buy at a level below the current forex price

• Forex Sell Limit Order Specifies to sell at a level above the current forex price

How to Place Buy Limit Orders & Sell Limit Orders in MetaTrader 4 - Pending Forex Orders on MT4

Forex Trading Stop Order

A forex stop pending order is an order to buy above the current forex market price or to sell below the current forex price.

When buying, a pending stop forex order is executed as the forex market goes up & hits buy stop price quote level.

When selling, a pending stop forex order is executed as the forex market price goes down and hits the sell stop forex price quote area.

• Forex Buy Stop Order Specifies to buy at a level above the current forex price.

• Forex Sell Stop Order Specifies to sell at a level below the current forex price.

How to Place Buy Stop Orders & Sell Stop Orders in MT4 - Forex Pending Orders on MT4