How to Place a Pending Indices Order on Meta Trader 4 Android App
There are different types of orders which one can use to trade in Indices.
Traders should learn and understand about all the various orders so as make use of the correct indices order for its correct purpose. The most important things to remember about is this: Always understand stock orders you 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 current exchange rate quotation in Indices Market, the execution is instant. The min you want to enter a position you can buy & sell indices at a click of a button using a stock market order.
Stock Indices Trading Entry Orders
These are orders used to open a new trade transaction after the market reaches a indices price specified by the trader.
Entry orders are used to buy or sell indices when it attains a certain price target.
When a specific 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 & this is why a indices entry order can be handy. If you feel the market may take a certain action, such as break 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 specified level, your entry limit indices trade order is executed.
There are two types of entry orders - limit indices order & stop entry order.
These entry orders are also known 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 buy below the current stock trading price or sell above the current 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 placed by traders when they expect the market to bounce back after reaching the price level at which the entry limit was placed.
- Buy Limit Indices OrderSpecifies to buy at a level below the current stock market indices price
- Sell Limit Stock Indices OrderSpecifies to sell at a level above the current stock market indices price
Indices Trading Entry Stop Stock Indices Order
A entry stop order to buy above current stock trading price or to sell below current stock trading price.
When buying, indices entry stop order is executed as the market goes up & hits buy stop level.
When selling, indices entry stop order is executed as the market goes down and hits the sell stop level.
- Buy Stop Indices OrderSpecifies to buy at a level above the current stock market indices price.
- Sell Stop Stock Indices OrderSpecifies to sell at a level below the current stock market indices price.
What's a Trade Plan? - Written Plan Example Template
Alternatives: Automated EA Trading or Copy and Paste Signals
