Pending Order - Kakiforex.com - Financial Market Media No. 1 in the World Pending Order Pending Order

March 25, 2021

Pending Order

 There are several types of pending orders or better known as PO.

⦁ Buy Limit and Sell Limit

⦁ Buy Stop and Sell Stop


A limit order is an order in which we expect the graph to move to the desired price and turn back.

⦁ Buy Limit can only be placed below the current price.

⦁ Sell Limit can only be placed above the current price.


A stop order is an order in which we expect the graph to move to the desired price and continue its movement so that we profit.

⦁ Buy Stop can only be placed above the current price.

⦁ Sell Stop can only be placed below the current price.

 


How to place a PO?


How to Put a Buy Limit

Suppose you select a price of 1.2495 (red line) to place a Buy Limit order, and the current price is currently above 1.2524 (black line).

⦁ Click on New Order

⦁ Set Lot Volume Value

⦁ Type: Select Pending Order

⦁ Pending Order Type: Select Buy Limit

⦁ Set the desired price. The example above selects 1.2495 to place a Buy Limit.

⦁ Click the Place Button


This means when the price falls below 1.2524 (black line), and hits 1.2495, a BUY order will open. And we hope that the price starts to go back up like the green arrow shown in the example.


 


How to Place a Buy Stop

Suppose you select a price of 1.5947 (red line) to place a Buy Stop order, and the current price is below that of 1.5906 (black line).

⦁ Click on New Order

⦁ Set Lot Volume Value

⦁ Type: Select Pending Order

⦁ Pending Order Type: Select Buy Stop

⦁ Set the desired price. The example above selects 1.5947 to place a Buy Stop.

⦁ Click the Place Button

This means, when the price rises above 1.5906 (black line) and hits 1.5947, a BUY order will open. And we hope that the price continues to go up like the green arrow shown in the example.


How to Place a Sell Stop

Suppose you select a price of 1.2495 (red line) to place a Sell Stop order, and the current price is currently above 1.2526 (black line).


⦁ Click on New Order

⦁ Set Lot Volume Value

⦁ Type: Select Pending Order

⦁ Pending Order Type: Select Sell Stop

⦁ Set the desired price. The example above selects 1.2495 to place a Sell Stop.

⦁ Click the Place Button


This means when the price falls below 1.2526 (black line), and hits 1.2495, a SELL order will open. And we hope that the price continues to go down like the red arrow shown in the example.



How to Set a Sell Limit


Suppose you select a price of 1.5947 (red line) to place a Sell Limit order, and the current price is below 1.5905 (black line).

⦁ Click on New Order

⦁ Set Lot Volume Value

⦁ Type: Select Pending Order

⦁ Pending Order Type: Select Sell Limit

⦁ Set the desired price. The example above selects 1.5947 to place a Sell Limit.

⦁ Click the Place Button


This means, when the price rises above 1.5905 (black line), and hits 1.5947, a SELL order will open. And we hope that the price starts to go back down like the red arrow shown in the example.


Continue studying the next chapter.