How to Place a Pending Crude Oil Trading Order in MT4 Oil Trading Platform
These are oil orders to buy above the crude oil market or to sell below the crude oil market.
- Buy Stop Crude Oil Trading OrderAn order to buy at a level above the crude crude oil trading price.
- Sell Stop Oil Trading OrderAn order to sell at a level below the crude crude oil 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 setup 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 oil trading price breakout. Therefore, oil traders will set these pending oil orders above & below crude crude oil trading price and a crude oil 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 crude oil trading price.
The crude crude oil trading price then went up to hit the buy stop oil order, & afterward crude crude oil 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 Oil Software
Setting Buy Stop Crude Oil Trading Order in a Oil Trading Breakout - How to Place a Pending Oil Trading Order Buy Stop Oil Trading Order in MT4 Oil Software
A Buy oil trade was generated from the above order when the crude crude oil trading price broke a resistance line in the first example and when there was an upward crude 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 crude oil trading price.
The crude crude oil trading price then went down to hit the sell stop oil order, & afterward the downwards crude crude oil 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 oil 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 Oil 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 shown below
Step2: Choose Pending order Menu as Show below
Step3: Select Buy Stop Oil Trading Order or Sell Stop Crude Oil Trading Order
Step4: Click "Place" Order
Steps to Setting These Pending Crude Oil Orders in MT4 Oil Software – How to Place a Pending Crude Oil Trading Order in MT4 Oil Software
