MetaTrader 5 HelpTradingTrading ActivityPlacing Pending Orders 

Placing Pending Orders

To place a pending order, one of the below actions must be performed:

  • In the "Market Watch" window, select a necessary symbol and execute the "New Order New Order" command of the context menu.
  • Press the "F9" hot key. The symbol in the order window is selected according to the terminal settings.
  • Execute the "New Order New Order" or "New Order New Order" command in the "Tools" menu or in the "Standard" toolbar respectively.

After that, in the order placing window select "Pending order" in the "Type" field and the necessary symbol in the "Symbol" field:

Pending order

The following parameters can be set for a pending order:

  • Type — selecting pending order type;
  • Volume — order volume in lots;
  • Price — price of pending order triggering. For stop and limit orders, the price at which they will be placed is set. For stop-limit orders this is the price of triggering and placing of limit orders at the level specified in the "Order Price" field;
  • Order Price — this field is active for stop limit orders only. This is the price at which a limit order will be placed when the stop limit order triggers.
  • Stop Loss — the Stop Loss level. If this field contains zero, this order won't be placed;
  • Take Profit — the Take Profit level. If this field contains zero, this order won't be placed;
  • Expiration — the order expiration conditions:
  • GTC (Good Till Canceled) — the order is in the queue until it's removed manually;
  • Today — the order is active only within the current trading day;
  • Specified — the order is active till the date indicated in the "Expiration Date" field;
  • Specified day — the order is active till 00:00 of the specified day. If that time appears to be out of a trade session, the expiration will be processed at a nearest trading time.
  • Expiration Date — in this field the order expiration date is specified, if the "Specified" or "Specified day" is selected as the order expiration condition;
  • Comment — a text comment to the order. The maximal comment length is 31 symbols.
  • The "Place" button is inactive if any of the parameters are specified incorrectly.
  • Stop Loss and Take Profit orders trigger only at open positions, but not at pending orders.
  • If the "Fill Policy" and "Expiration" fields are inactive, it means that the possibility of changing them is disabled at the server.
  • A comment to an order can be changed by a broker or server.

Placing Pending Orders from a Chart

Pending orders can be placed from a chart using the "Trade" submenu of its context menu:

Trading menu in a chart

It's necessary to place a mouse cursor on the necessary price level in a chart and execute the corresponding command of pending order placing in its context menu. After that the order placing window is opened, where parameters can be set more precisely.

 

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