How to place trades in mt4 using buy stop sell stop buy limit or sell limit.
What is a buy stop on mt4. It is a strategy to profit from an upward movement in a stock s price by placing an order in advance. Mt4 order types can be daunting for a beginner. A buy stop order is an order to purchase a security at a specified strike price. Buy stop order is a trade order to buy at the ask price equal to or greater than the one specified in the order.
The buy stop order is often used by breakout traders and traders using a pyramiding system to create bigger winning trades. How to place a buy stop order on mt4 trading platform. A stop level is set above the current ask price while stop limit price is set below the stop level. A buy stop order is a pending order that is placed above the current price in anticipation that price will head up trigger it and continue moving up.
When you order a position with this order type the current price level needs to be lower than the value specified in the order. I remember the first time i opened up my mt4 trading platform and did not know the mt4 order types i was staring at on the screen. Please see the chart on the upper left side in the below picture. A buy stop order is an order where you are entered if price moves above the current price.
I did not know what a market order was let alone what a sell limit or sell stop order was or what a buy stop or buy limit order was. Placing a buy stop order using the mt4 trading platform is really simple. Terms like buy stop and buy limit sell stop and sell limit look confusing when you want to place a pending order. This type of pending order is available on mt5 by default.
Sometimes you wonder why metatrader 4 or mt4 platform doesn t accept your pending order requests when you choose one of these terms. See below how to create a buy limit on mt4.
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