Indices Trading Set Buy Limit Order and Sell Limit Order on MetaTrader 4

Buy Limit Order and Sell Limit Order MetaTrader 4 Pending Orders

Pending Orders on MetaTrader 4

To set up these pending orders in MetaTrader 4 software, Right-click on Indices Trading chart>>> Select 'Trading">>> Then Select "New'>>> Then on window pop up that appears (illustrated & shown below), under label "Type" select option of "pending" instead of "market execution">>> Under the pending order options select the pending order type: for This trade select either "Buy Limit Order" or "Sell Limit Stock Order" depending on whether you want to place a pending buy or sell order.

Pending Orders - Setting Buy & Sell Limit Orders in Meta Trader 4

Limit order definition - Entry limit is an order to buy or sell a Trading at a certain stock price which is a retracement level where price is predicted to pull-back to before resuming the original Indices trend. traders use them to buy or sell at better market price. These types of pending orders are provided for in most online platforms, for our example we will be using MT4 stock trading platform.

An entry pending order of this type can be used to buy below the market level (up trend market retracement) or sell above trading market level (down trend Indices Trading market retracement).

Buy limit Order - When buying, your entry buy limit is executed when stock trading market falls to your set price. (retraces down)

Sell limit Order - When selling, your entry sell limit is executed when stock trading market rises to your set price. (retraces up)

Entry orders or pending orders are placed by traders when they expect price to bounce back after reaching this area.

• Entry Buy Limit Orderbuy at a level below the current market level.

• Entry Sell Limit Ordersell at a level above the current market level.

Buy Limit Order Example

In the examples explained below, the buy limit order was placed to buy at a price below the current market price. Point B is point at which it was set.

Limit buy order entry placed to buy below current market price

The trend then retraced & went down to hit buy entry limit, and afterwards price continued to move upward in direction of the original Indices upwards trend. When the limit buy order was hit it changed into a buy.

Price hits buy limit, buy limit order now changes to a buy order

Sell Limit Stock Order Example

In the sell limit pending order examples explained below a the sell entry limit was placed to sell at a price above the current market price. This is the level for the price retracement.

Entry limit sell order placed to sell above current market price

The trend then rallied, went up to hit sell entry limit, & afterwards price continued to move downward in direction of the original Indices downwards trend.

Price hits sell limit, sell limit order now changes to a sell order

When indices quote got to the set level the order changed in to a sell, this is therefore a nice strategy to buy or sell at a better price after a retracement move.