How to use the pending order trading of the foreign exchange trading platform MT4 software

1. What is a pending order transaction?

In foreign exchange trading, pending order trading refers to the trader setting a price for the trading software, and a certain market price reaches the corresponding point set by the trader, and then automatically establishing a position (buy or sell) in the direction set by the trader.

2、Forex PlatformHow to use pending orders on the MT4 foreign exchange trading platform

1) Buy limit: buy limit, that is, relative to the current price, lower than the current price of the order to buy the operation order

Example: The Buy limit is set to buy at a lower price (go long), which is the same as the pending order for stocks; for example, now that Gold is 1700, I feel that the trend is still upward, but the price will revert to 1680, and then continue to rise. You need to use the buy limit: 1680. When the price falls back to 1680, the order will be closed. If the price rises, it will be profitable.

2) Sell limit: sell limit, that is, relative to the current price, higher than the current price of pending orders to sell orders

Example: The sell limit is set to sell at a higher price (short); for example, now that Gold is 1700, I think the trend is still down, but the price will rebound to 1720 and then continue to fall, then you need to use the sell limit: 1720, when the price rises to 1720, the sell order will be closed, and if the price falls, it will be profitable.

3) Buy stop: stop-loss buying, which refers to the buying operation order at a price higher than the current price relative to the current price

Example: Buy stop is a chasing behavior. For example, if AU is Gold now, if you feel that only by breaking through 1720 can you determine the upward trend and further rise, then you can use Buy stop: 1720, then when AU rises to 1720, the order will be completed. If you continue to rise, you will be profitable.

4) Sell stop: stop-loss sell, that is, relative to the current price, the price below the current price of the pending order to sell orders

Example: Sell stop is a short-selling behavior, for example, now Gold is 1700, feel that only down to break through 1680, in order to determine the decline, and further decline, then you can use sell stop: 1680, then when the AU fell to 1680, the sell order will be closed, if continue to fall, will be profitable.