How Do I Set a Pending Indices Order on Meta Trader 4 Android App
There are various types of orders which a trader can use to trade in Indices.
Traders should learn and understand about all the various orders so as make use of correct indices order for the correct purpose. The most important things to remember about is this: Always understand stock orders you as a trader place when indices trading. Never place a order which you as a trader are not entirely knowledgeable about. Given below are basic definitions of the commonly used types of orders:
Types of Indices Market Orders & Types of Pending Stock Indices Orders
Trading Market Order
This is the most basic type of order, market order is used to buy or sell at current ask or bid indices quote trading price. This refers to the quoted stock price that appears & is shown & displayed on your indices platform.
This type of order is used for buying or selling according to the ruling exchange rate quote in Indices Market, the execution is instant. The min you want to enter a position you can buy and sell indices at a click of a button using a stocks market order.
Stock Indices Trading Entry Orders
These are orders used to open a new trade after the market reaches a indices price specified by trader.
Entry orders are used to buy or sell indices when it attains a certain price target.
When a particular price level is reached or broken then a indices entry trade order is executed.
These Indices Trading Entry Orders are used to enter a indices trade at a specified stock trading price level. It's almost impossible to monitor the market every second and this is why a indices entry order can be handy. If you feel the market might take a certain action, such as break out through a specific trading price level that it has been touching but it hasn't been able to break, you'd want to use a Indices Trading Entry Limit Indices Order. Once the market crosses your given level, your entry limit stock indices trade order is executed.
There are two types of entry orders - limit indices order and stop entry order.
These entry orders also are referred to as pending stock trade orders.
Stock Indices Trading Entry Limit Indices Order
An order to buy or sell at a specific limit.
An entry limit indices order can be used to open buy below the ruling stock trading price or sell above the ruling stock trading price.
When buying, indices entry limit is executed when the price drops to your limit zone that you have set.
When selling, indices entry limit is executed when the price rises to your limit zone that you have set.
These Indices Trading Entry Limit Indices Orders are set by traders when they expect the market to bounce back after reaching to the price level that the entry limit was placed.
- Buy Limit Indices OrderSpecifies to open buy at a level that is below the ruling stock market indices price
- Sell Limit Stock Indices OrderSpecifies to open sell at a level that is above the ruling stock market indices price
Indices Trading Entry Stop Stock Indices Order
A entry stop order to open buy above ruling stock trading price or to sell below current stock trading price.
When buying, stock indices entry stop pending order is executed as the market goes up and hits buy stop level.
When selling, indices entry stop pending order is executed as the market goes down and touches the sell stop level.
- Buy Stop Indices OrderSpecifies to open buy at a level that is above the ruling stock market indices price.
- Sell Stop Stock Indices OrderSpecifies to open sell at a level that is below the ruling stock market indices price.
