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How do I place a pending order on MT4?

A pending order is an instruction to open a position when an instrument reaches a certain price pre-defined by you.

You can place a pending order via the main ‘Order’ window. Simply change the ‘Type’ from ‘Instant Execution’ to ‘Pending Order’. A drop-down menu will then appear that will ask you to specify whether the pending order you are about to place is a Buy Limit, Sell Limit, Buy Stop or a Sell Stop Order, and will allow you to set limit price and expiry date and time.

Bear in mind that Buy stops & Sell limits must be placed above the current market price, and Sell stops and Buy limits must be placed below the current market price.