Entry Stop Orders
These are stock indices orders to buy above the stock index market or to sell below the stock indices market.
- Buy Stop OrderAn order to buy at a level above the stock index trading market price.
- Sell Stop OrderAn order to sell at a level below the stock indices market price.
Buy Entry & Sell Entry Orders
These stock index orders are also known as pending orders. These pending stock indices orders are used by traders wanting to trade a setup like the consolidation stock index pattern but they don't want to wait & watch the prices all day long until there's a price breakout. Therefore, traders will set these pending orders above & below price & a price breakout in any of these direction will execute one of these pending stock index orders & a buy trade or a sell trade will automatically be opened.
Buy Stop Order
In the indices examples below a buy stop order was placed to buy at a level above the current market price.
The price then went up to hit the buy stop order, and afterward price continued to move upwards.
How to Place a Pending Order Buy Stop Order on MT4
How to Place a Pending Order Buy Stop Order on MT4
A Buy indices trade was generated from the above order when the price broke a resistance line in the first example and when there was an upward price break out after a market consolidation pattern.
Sell Stop Order
In the stock indices trading example explained and illustrated below a sell stop order was placed to sell at a level below the current market price.
The price then went down to hit the sell stop order, & afterward the downwards price move continued
How to Place a Pending Order Sell Stop Order on MT4
Pending Sell Order Set in a Indices Price Breakout - How to Place a Pending Order Sell Stop Order on MT4
A Sell indices trade was generated from the above sell stop order after support line is broken after a consolidation stock index trading pattern.
How to differentiate between stop Stock Indices orders & limit Indices orders
It is easier to first of all remember one concept. The easier concept is that of Stop Orders are set above and below the price.
In the mean time Download MT4 platform & practice setting these orders on a Practice Demo Account.
How to Place a Pending Order in MetaTrader 4 Platform
Open a Trading Indices Chart, Right-Click on indices Chart, Choose New Order, then Follow the steps below
Step1: Select Pending order as illustrated & shown below
Step2: Select Pending order Menu as Show below
Step3: Select Buy Stop Order or Sell Stop Order
Step4: Click "Place" Order
Steps to Setting These Pending Orders on MT4 - How to Place a Pending Order on MT4
