Entry Stop Orders
These are stock orders to buy above the stock market or to sell below the stock trading market.
- Buy Stop Stock Order An order to buy at a level that is above the stock market price.
- Sell Stop An order to sell at a level that is below the stock market price.
Buy Entry and Sell Entry Orders
These stock orders are also known as pending stock orders. These pending stock orders are used by the online traders who want to trade a setup like the consolidation pattern but they do not want to wait & watch the stock prices all day long til there a price breakout. Therefore, traders will set these pending stock orders above & below stock price & a price break out in any of these direction will execute one of these pending stock orders & a buy trade or a sell trade will be automatically opened.
Buy Stop Stock Order
In the examples revealed below a buy stop pending was placed to buy at a level above the prevailing market price.
The stock price then went up to hit the buy stop order, & afterwards price continued to move upward.
How Do I Set a Pending Order Buy Stopon MT4
How Can You Set and Place a Pending Order Buy Stop Order in the MT4 Platform
A Buy trade signal was derived/generated from the above order when the stock price broke a resistance line in the first example illustration and when there was an upward price break out after a market consolidation trade pattern.
Sell Stop
In the stock trading illustration explained & shown below a sell stop order was put to sell at a level below current price.
The stock price then went down to hit the sell stop pending order, and afterwards the the downwards stock price move continued
How Do I Set a Pending Order Sell Stop Order in the MT4 Platform
Pending Sell Order Set in a Price Breakout - How to Set a Pending Order Sell Stop Order on MetaTrader 4 Platform Software
A Sell indices trade was generated from the above sell stop order after support level is broken after a consolidation trade pattern.
How to tell the difference between stop orders & limit orders
It's easier to first of all remember one concept. The easier concept to learn is that of Stop Orders are set above and below the market price.
In the mean time Download MetaTrader 4 platform & practice setting these orders on a Practice Practice Demo Trading Account.
How to Set a Pending Order in MT4 Platform
Open a Chart, Right Click in a Chart, Select New Order, then follow the steps illustrated and shown below
Step1: Choose Pending market order like as illustrated and displayed below
Step2: Choose Pending order Menu as Show below
Step3: Select Buy Stop Order or Sell Stop
Step 4: Click on "Place" Order
Steps to Setting These Pending Orders on MT4 Platform Software - How to Set a Pending Order on the MT4 Software
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