Pending Orders in MT4

There are four kinds of pending execution orders you can place:

Buy Limit - An order to buy a currency at a price BELOW the current

market price. You will want to enter this order when you want to get

in the market at a price that is lower than the current price.

Buy Stop - An order to BUY a currency at a price ABOVE the current

market price. You will want to place this order to enter your position

when a certain price level is crossed. This order type is typically used

on break out trades.

Sell Limit - An order to sell a currency at a price ABOVE the current

market price. You will want to enter this order to get in short when

the price moves higher.

Sell Stop - An order to sell a currency at a price BELOW the current

market price. You will want to place this order to enter short once a

specific level has been broken down.