Indices Orders - How to Place a Pending Indices Trading Order In MetaTrader 4 - How to Place a Pending Indices Trading Order In MT4
There are different types of indices trading 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 trading order for its correct purpose. The most important things to remember about is this: Always understand the indices trading orders you place. Never place a indices trading order which you are not entirely knowledgeable about. Given below are the some basic definitions of the commonly used types of indices trading orders:
Types of Indices Trading Market Orders and Indices Trading Pending Indices Trading Orders
This is the most basic type of indices trading 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 indices price that appears on your indices trading platform.
This type of indices trading 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 the indices trading instrument at a click of a button using a indices trading market order.
Entry Indices Trading Orders
These are indices trading orders used to open a new trade position after the indices trading market reaches a indices price specified by the indices trader.
Entry orders are used to buy or sell a indices trading instrument when it attains a certain indices price target.
When a specific indices price level is reached or broken then a indices trading entry order is executed.
These Entry Indices Trading Orders are used to enter a indices trading trade at a specified indices price level. It is almost impossible to monitor the indices trading market every second and this is why an entry order can be handy. If you feel the indices trading market may take a certain action, such as break through a particular 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 Trading Order. Once the indices trading market crosses your specified level, your entry limit indices trade order is executed.
There are two types of entry orders - limit indices trading order and stop entry order.
These entry orders are also known as pending indices trading orders.
Entry Limit Indices Trading Order
An order to buy or sell at a certain limit.
An entry limit indices trading order can be used to buy below the current indices price or sell above the current indices price.
When buying, entry limit is executed when the indices trading price falls to your limit level.
When selling, entry limit is executed when the indices trading price rises to your limit level.
These Entry Limit Indices Trading Orders are placed by indices traders when they expect the indices trading market to bounce back after reaching the indices price level at which the entry limit was placed.
- Buy Limit Indices Trading Order
Specifies to buy at a level below the current market indices price
- Sell Limit Indices Trading Order
Specifies to sell at a level above the current market indices price
Entry Stop Indices Trading Order
An entry stop order to buy above the current indices price or to sell below the current indices price.
When buying, entry stop order is executed as the indices trading market goes up and hits the buy stop level.
When selling, entry stop order is executed as the indices trading market goes down and hits the sell stop level.
- Buy Stop Indices Trading Order
Specifies to buy at a level above the current market indices price.
- Sell Stop Indices Trading Order
Specifies to sell at a level below the current market indices price.