Market Orders
A Market Order is executed immediately at the current market price.
Buy (Market): Opens a long position at the current ask price
Sell (Market): Opens a short position at the current bid price
Use market orders when you want to enter a trade right away.
Pending Orders
Pending orders are instructions to open a position when the price reaches a specific level.
Buy Limit — Buy at a price below the current market price. Used when you expect the price to drop to a level and then bounce back up.
Sell Limit — Sell at a price above the current market price. Used when you expect the price to rise to a level and then reverse down.
Buy Stop — Buy at a price above the current market price. Used when you expect a breakout above a resistance level.
Sell Stop — Sell at a price below the current market price. Used when you expect a breakdown below a support level.
Buy Stop Limit — A combination: places a Buy Limit order once the price reaches the stop level.
Sell Stop Limit — A combination: places a Sell Limit order once the price reaches the stop level.
How to Place a Pending Order
1. Press F9 in MT5 or click New Order
2. Change the Type from "Market Execution" to the desired pending order type
3. Set the entry price, stop loss, and take profit
4. Optionally set an expiration date/time
5. Click Place