How to Place a Pending Indices Order in MetaTrader 4 iPhone App
There are different types of stock indices orders which a trader can use to trade in Indices.
Traders should learn & understand about all the various stock indices 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 the stock indices orders you place when indices trading. Never place a stock index order which as a trader you are not entirely knowledgeable about. Given below are basic definitions of the commonly used types of stock indices orders:
Types of Indices Market Orders and Types of Pending Stock Indices Orders
Indices Trading Market Order
This is the most basic type of stock indices order, market order is used to buy or sell at 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 current exchange rate quotation in Indices Trading Market, the execution is instant. The minute you want to enter a position you can buy and sell indices at a click of a button key using a stock indices market order.
Stock Indices Trading Entry Indices Orders
These are stock indices orders used to open a new trade position after the stock indices market reaches a indices price specified by the 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 Indices Trading 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 market every second & this is why a indices entry order can be handy. If you feel the stock indices trading market might take a certain action, such as break through a particular stock indices price level which it has been touching but it hasn't been able to break, you would want to use a Indices Trading Entry Limit Indices Order. Once the stock indices trading market crosses your specified level, your entry limit indices trading order is executed.
There are 2 types of entry orders - limit indices order & stop entry order.
These entry orders are also known as pending stock indices 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 indices price or sell above the current stock indices price.
When buying, indices entry limit is executed when the stock indices price falls to your limit area.
When selling, indices entry limit is executed when the stock indices price rises to your limit area.
These Indices Trading 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 indices entry limit was placed.
- Buy Limit Indices OrderSpecifies to buy at a level below the current stock indices market indices price
- Sell Limit Stock Indices OrderSpecifies to sell at a level above the current stock indices market indices price
Indices Trading Entry Stop Stock Indices Order
A indices entry stop order to buy above current stock indices price or to sell below the current stock indices price.
When buying, indices entry stop order is executed as the stock indices market goes up & hits buy stop level.
When selling, indices entry stop order is executed as the stock indices trading market goes down & hits the sell stop level.
- Buy Stop Indices OrderSpecifies to buy at a level above the current stock indices market indices price.
- Sell Stop Stock Indices OrderSpecifies to sell at a level below the current stock indices market indices price.
