How to Place a Pending Indices Order in MetaTrader 4
There are different types of stock indices orders which a indices trader can use to trade in Indices.
At the foundation of successful indices trading is making use of the correct indices order for its correct purpose. The most important things to remember about is this: Always understand the stock indices orders you place. Never place a stock indices order which you are not entirely knowledgeable about. Given below are the some basic definitions of the commonly used types of stock indices orders:
Types of Indices Trading Market Orders and Pending Indices Orders
Market Order
This is the most basic type of stock indices order, market order is used to buy or sell at the current ask or bid indices trading quote indices price. This refers to the quoted stock indices price that appears on your indices trading platform.
This type of stock indices order is used for buying or selling according to the present exchange rate quotation in Indices Trading, the execution is instant. The minute you want to enter a position you can buy and sell indices at a click of a button using a stock indices market order.
Entry Indices Orders
These are stock indices orders used to open a new trade position after the stock indices trading market reaches a indices price specified by the indices trader.
Entry orders are used to buy or sell indices when it attains a certain stock indices price target.
When a specific stock indices price level is reached or broken then a indices entry order is executed.
These Entry Indices Orders are used to enter a indices trade at a specified stock indices price level. It is almost impossible to monitor the stock indices trading market every second and this is why an entry order can be handy. If you feel the stock indices trading market may take a certain action, such as break through a particular stock indices price level that it has been touching but it has not been able to break, you would want to use an Entry Limit Indices Order. Once the stock indices trading market crosses your specified level, your entry limit indices trade order is executed.
There are two types of entry orders - limit indices order and stop entry order.
These entry orders are also known as pending stock indices orders.
Entry Limit Indices Order
An order to buy or sell at a certain limit.
An entry limit indices order can be used to buy below the current stock indices price or sell above the current indices price.
When buying, entry limit is executed when the stock indices price falls to your limit level.
When selling, entry limit is executed when the stock indices price rises to your limit level.
These Entry Limit Indices Orders are placed by indices traders when they expect the stock indices trading market to bounce back after reaching the stock indices price level at which the entry limit was placed.
- Buy Limit Indices OrderSpecifies to buy at a level below the current market indices price
- Sell Limit Indices OrderSpecifies to sell at a level above the current market indices price
Entry Stop Indices Order
An entry stop order to buy above the current stock indices price or to sell below the current indices price.
When buying, entry stop order is executed as the stock indices trading market goes up and hits the buy stop level.
When selling, entry stop order is executed as the stock indices trading market goes down and hits the sell stop level.
- Buy Stop Indices OrderSpecifies to buy at a level above the current market indices price.
- Sell Stop Indices OrderSpecifies to sell at a level below the current market indices price.
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