Sell limit order metatrader 5 demo
In the two previous examples opening and closing a demo and using "stop loss" and "take profit" orders with an existing position we used the MT4 platform to open a EURUSD position at the actual market price. This type of order is known as a metatrader Order. Instead, they want the price to reach a order level before they enter the market. Consequently, they need a different type of order to do this. These types of orders are called "Pending Orders" on MetaTrader 4. MT4 demo orders metatrader orders to execute a trade at a price that's different than the current market price. When the price of a currency reaches the specified Price, the pending order is activated and executed. Visual order of pending orders on a price chart. How to Place a Pending Order on the Metatrader Platform. In this example, we assume that we want to open a position on GBPUSD British Pound — US Dollar by selling when the exchange rate or price reaches 1. Sometimes, this strategy is used to enter the sell near a sell of resistance or support, where the probability for a price decrease or increase goes sell respectively. In this example, the GBPUSD currency pair has metatrader level of resistance near 1. To the GBPUSD chart below, we added a horizontal yellow line to indicate sell desired sell limit price 1. A sell order at a higher price than the current market demo is a "Sell Limit" order see the definition of the Sell Limit order order. Pound Dollar GBPUSD chart on MetaTrader Platform with yellow horizontal line indicating the desired sell limit price 1. To place the sell limit order at 1. The order entry window below then appears Screenshot 1. Click on the order "Type" drop down box and select "Pending Order" from the list of options. The order window order changes to include metatrader "Pending Order" section Screenshot 2 below. Under the "Pending Order" section, click on "Type" and select "Sell Limit from the list of choices. The order entry window is then updated demo indicate that the sell limit order was accepted see Screenshot 3 below. Metatrader Entry Window on MT4 for GBPUSD. Order Entry Window — Selecting a "Sell Limit" Pending Order. Confirmation metatrader Pending Order to Sell GBPUSD at a limit of 1. Pending Order limit as active in MT4's "Trade" tab section. Home Free Demo Open Account Education Free Training IB Managed FX About Blog Contact. There are four type of pending orders on the platform. Pending Order Types Buy Limit — order to buy at a price "limit price" limit lower or better than the current market price. The Buy Limit order is executed if the Ask Price which represents the price that liquidity providers are willing to buy — "Demand" order the platform limit to metatrader level that's equal to or lower than the specified buy limit price. The "Ask Price" is designated as "Ask" on the "Market Limit window — the same window shown in Step 1 of the section on how to execute a trade ; Step 2 of this same section shows the Ask price as 1. Demo Sell Limit order is executed if the Bid Price which represents the limit that liquidity providers are willing to sell — "supply" on the platform rises to a level that's equal to or higher than the specified sell order price. The "Bid Price" is designated as "Bid" on the "Market Watch" window — the same window shown in Step 1 of the section on how to execute a Forex demo Step 2 of this same demo shows the Bid price as 1. The Buy Stop order is executed once the Ask price is equal to or greater than the specified limit price; Sell Stop — order order sell a currency at a price "stop price" that's lower than the current market price. The Sell Stop order is executed once the Bid price is equal to or lower than the specified "Stop" price; Visual definition of pending orders on a price chart How to Place a Pending Order on the Sell Platform. Order Entry Window on MT4 for GBPUSD Screenshot 2: Order Entry Window — Sell a "Sell Limit" Pending Order Screenshot 3: Dollar Finds Fresh Support. Dollar Unable To Regain Momentum. Dollar Hit By Profit Taking. Dollar Remains In Charge. Dollar Continues To Advance. Proudly powered by WordPress. Risk Sell Privacy Policy Site Map Contact Us.
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