Learn from our industry leaders about how to manage your wealth and help meet your personal financial goals.įrom volatility and geopolitics to economic trends and investment outlooks, stay informed on the key developments shaping today's markets. Across all our businesses, we offer keen insight on today's most critical issues. If you want to learn about the other order types you can read about the buy limit and buy stop and also how you can use the stop loss order in your trading.At Morgan Stanley, we lead with exceptional ideas. I hope this helps you understand the sell limit and sell stop a little better. – Once you are happy and it is all filled out, click the ‘Place’ button to enter your trade. – Fill in the stop loss and take profit fields. – Enter the size of your position in the volume field. – Next, enter the price you want to enter. – In the Order Type dropdown select ‘Pending Order’.īuy Limit – Order to go long a level lower than current market price – From the ‘symbol’ drop-down list, choose the currency pair you want to trade. – When you have your MT4 / MT5 charts open
Here are the steps to place pending sell limit and sell stop orders
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NOTE:If you don’t have the correct New York close MT4 / MT5 charts you can download a free demo here. How to Place a Buy Limit and Buy Stop Order on MT4 / MT5 This order is similar to the buy stop and can be used if you think price is going to continue in a certain direction.īreakout traders looking for a level to quickly break and traders using a pyramiding entry method will often use these entry types. See below how you could enter a sell stop on MT4 You could create a sell stop so that if price moves lower and into 1.3220 you would be entered into a short trade. You could use this order type if you are a price action trader and think price will reverse.Ī sell stop order is an order you will place to sell below the current market price.Īn example of a sell stop order may be ABC / XYZ is trading at 1.3250 and you want to sell when the price moves lower and reaches 1.3220. This order is similar to the buy limit and can be used to enter at a price that is more favorable and of your choosing. See below how you could enter a sell limit on MT4
You could create a sell limit so that if price moves higher into 1.3220 you would be entered into a short trade. Using the Sell Limit and Sell Stop Sell Limit OrderĪ sell limit order is an order you will place to sell above the current market price.Īn example of a sell limit order may be ABC / XYZ is trading at 1.3210 and you want to sell when the price reaches 1.3220. Sell Stop – Order to go short at a level lower than market price Sell Limit – Order to go short at a level higher than current market priceīuy Stop – Order to go long at a level higher than current market price In MT4 there are four different types of pending orders that you can select from and for ease I have added them below and what they are used for īuy Limit – Order to go long at a level lower than current market price Or, you could create a sell stop order so that if price moves lower and into the level you want to enter, you will be entered. Wait and see if the price moves lower, and if it does, then enter a market order to enter. You want to enter the ABC / XYZ pair, but only if the price moves lower. When placing a sell limit or sell stop entry order you are placing an order to sell above, or to sell below where the current price is. What is a Sell Limit and Sell Stop Entry Order? You also need to keep in mind that you will not always be entered into the exact price you were quoted when you hit buy or sell.ĭepending on the market conditions for example, when news is released and the market is extremely volatile, you may get a different price. See the image below showing a market order on MT4 When you are placing a market order you are placing either a buy or sell order to enter at the best available price.Īn example of this may be you enter a market order to buy ABC / XYZ pair that has a bid price of 1.3512 and an ask of 1.3514.Īfter placing your buy order, XYZ would be sold to you at 1.3514. However, to understand the sell limit and sell stop we must understand the market order. In this lesson we will discuss the sell limit and sell stop and how you can use them as well as how you can execute the order on your trading platform. How to Use Sell Limit and Sell Stop Order – Explained With Examples