Place pending orders
A pending order in MT5 is an instruction to your broker to open a trade automatically when the price reaches a specific, pre-defined level.
How to Place a Pending Order
1. Open the Order Window: Press F9 (PC), tap New Order in the Market Watch, or right-click the asset on your chart.
2. Select Order Type: Change the 'Type' dropdown from Market Execution to Pending Order.
3. Choose the Pending Type: Select Buy Limit, Sell Limit, Buy Stop, Sell Stop, Buy Stop Limit, or Sell Stop Limit (see rules below).
4. Set Parameters: Enter your desired Volume (lot size), the trigger Price, and optional Stop Loss (SL) or Take Profit (TP) levels.
5. Execute: Click the Place button.
Choose the Right Order Type
Which pending order to use depends on whether you are betting on a bounce (support/resistance) or a breakout (following the trend):
1. Buy Limit
A Buy Limit order is used when you want to buy at a price lower than the current market price.
This means you expect the price to fall first, reach a support area, and then move back up.
Example:
If the current price is 3400 and you place a Buy Limit at 3380, the trade will only be triggered if the price drops to 3380.
Best used for:
Buying pullbacks or support zones.
2. Buy Stop
A Buy Stop order is used when you want to buy at a price higher than the current market price.
This means you expect the price to break above a certain level and continue rising.
Example:
If the current price is 3400 and you place a Buy Stop at 3420, the trade will only be triggered if the price rises to 3420.
Best used for:
Breakout trading or trend continuation.
3. Sell Limit
A Sell Limit order is used when you want to sell at a price higher than the current market price.
This means you expect the price to rise first, reach a resistance area, and then fall.
Example:
If the current price is 3400 and you place a Sell Limit at 3420, the trade will only be triggered if the price rises to 3420.
Best used for:
Selling at resistance or trading pullbacks in a downtrend.
4. Sell Stop
A Sell Stop order is used when you want to sell at a price lower than the current market price.
This means you expect the price to break below a certain level and continue falling.
Example:
If the current price is 3400 and you place a Sell Stop at 3380, the trade will only be triggered if the price drops to 3380.
Best used for:
Breakdown trading or bearish trend continuation.
5. Buy Stop Limit
A Buy Stop Limit order combines a Buy Stop and a Buy Limit.
When the price reaches the stop level, the platform will automatically place a Buy Limit order at the selected limit price.
This is useful when traders want to confirm a breakout first, but still enter at a better price.
Example:
Current price: 3400
Stop price: 3420
Limit price: 3410
When the price reaches 3420, a Buy Limit order will be placed at 3410.
6. Sell Stop Limit
A Sell Stop Limit order combines a Sell Stop and a Sell Limit.
When the price reaches the stop level, the platform will automatically place a Sell Limit order at the selected limit price.
This is useful when traders want to confirm a breakdown first, but still enter at a better selling price.
Example:
Current price: 3400
Stop price: 3380
Limit price: 3390
When the price reaches 3380, a Sell Limit order will be placed at 3390.
