How to Place a Pending Crude Trading Order in MT4 Platform
These are oil orders to buy above the crude oil market or to sell below the crude oil market.
- Buy Stop Crude Trading OrderAn order to buy at a level above the crude trading price.
- Sell Stop Oil Trading OrderAn order to sell at a level below the crude trading price.
Buy Entry and Sell Entry Oil Trading Orders
These oil orders are also known as pending oil orders. These pending oil orders are used by oil traders wanting to trade a set up like the consolidation oil pattern but they do not want to wait and watch the crude oil prices all day long until there is a crude trading price breakout. Therefore, oil traders will set these pending oil orders above & below crude trading price and a crude trading price breakout in any of these direction will execute one of these pending oil orders & a buy oil trade or a sell oil trade will automatically be opened.
Buy Stop Crude Oil Order
In the oil examples below a buy stop oil order was placed to buy at a level above the current market crude trading price.
The crude trading price then went up to hit the buy stop oil order, & afterward crude trading price continued to move upwards.
Setting Buy Stop Oil Trading Order above Resistance Level - How to Place a Pending Oil Trading Order Buy Stop Oil Trading Order in MT4 Software
Setting Buy Stop Crude Trading Order in a Oil Trading Breakout - How to Place a Pending Oil Trading Order Buy Stop Oil Trading Order in MT4 Software
A Buy oil trade was generated from the above order when the crude trading price broke a resistance line in the first example and when there was an upward crude oil price breakout after a market consolidation pattern.
Sell Stop Oil Trading Order
In the oil example shown below a sell stop oil order was placed to sell at a level below the current market crude trading price.
The crude trading price then went down to hit the sell stop oil order, & afterward the downwards crude trading price move continued
Setting a Sell Stop Oil Trading Order Below a Support Level
Pending Sell Order Set in a Oil Price Breakout
A Sell oil trade was generated from the above sell stop oil order after support line is broken after a consolidation oil chart pattern.
How to differentiate between stop Oil orders & limit Crude Oil orders
It is easier to first of all remember one concept. The easier concept is that of Stop Oil Trading Orders are set above and below the crude trading price.
In the mean time Download MT4 platform & practice setting these orders on a Practice Demo Account.
Setting Buy & Sell Stop Oil Orders in MetaTrader 4 Crude Trading Platform
Open a Trading Crude Oil Chart, Right Click on the oil Chart, Choose New Order, then Follow the steps below
Step1: Choose Pending order as illustrated below
Step2: Choose Pending order Menu as Show below
Step3: Select Buy Stop Oil Trading Order or Sell Stop Crude Trading Order
Step4: Click 'Place' Order
Steps to Setting These Pending Crude Oil Orders in MT4 Software - How to Place a Pending Crude Trading Order in MT4 Software
