Pending order (pending order)
What is a pending order?
Pending order (pending order) - Trading order of the client to the dealer or the broker to open a trading position to buy or sell a financial instrument at achievement of a certain market rate, marked in the order, by the volume and with the specified levels of StopLoss and TakeProfit.
What types of pending orders are there?
There are four basic types of pending orders:
- Buy Limit - a type of pending order to open a buy transaction when the "Ask" price reaches the set level, which is below the current price of the instrument.
- Buy Stop - pending order type, which also represents the client's order to the broker to open a buy transaction at a price above the current market rate.
- Sell Limit - a type of pending order to open a sell transaction when the market rate "Bid" reaches a price lower than the current one.
- Sell Stop - a type of pending order, which is an order to sell when the current market rate is higher than the price value specified in the order.
How to trade pending orders on ?
The use of pending orders in trading does not require a trader to be constantly at the monitor for fear of missing a profitable point of entry into the market, which allows you to make a clear trading plan and reduces the emotional load. Pending orders are used in many strategies and trading tactics.
Data on pending orders are stored on the company's server, so the trader does not need to keep the terminal open.