Introduction

In forex trading, timing and precision are everything. Sometimes, traders don’t want to enter the market immediately they prefer to wait for a specific price level before executing a trade. That’s where pending orders come in.

Pending orders allow traders to set their buy or sell positions in advance, so the trade is automatically opened when the market reaches their chosen price level. This article will explain what pending orders mean, when and where to use them, the different types, and how to place them step-by-step on the MT5 mobile app.

What Are Pending Orders in Forex?

A pending order is a pre-set instruction to the broker to open a trade automatically when the market reaches a certain price.

Unlike a market order (which opens immediately at the current price), a pending order waits for a condition to be met meaning you can plan your trade even when you’re away from your screen.

Pending orders are essential tools for traders who want to catch moves from key support or resistance levels, or who want to trade breakouts without watching the chart all day.

Why Pending Orders Are Important

1. They save time: You don’t have to stay glued to your phone waiting for the perfect price.
2. They improve discipline: Your entries are planned ahead, avoiding emotional trading decisions.
3. They allow automation: You can manage trades even when you’re asleep or offline.
4. They help with risk management: You can set your stop loss and take profit while placing the order.

Types of Pending Orders in Forex

There are four main types of pending orders on MT5, divided into two categories buy orders and sell orders.

1. Buy Limit

A Buy Limit order is placed below the current market price.
You use it when you expect the price to fall first, then rise later.

• Example:
  If EUR/USD is trading at 1.0950 and you believe it will drop to 1.0900 before moving up, you can place a Buy Limit at 1.0900.
  When price reaches 1.0900, your buy trade will open automatically.

2. Sell Limit

A Sell Limit order is placed above the current market price.
You use it when you expect the price to rise first, then fall later.

• Example:
  If GBP/USD is trading at 1.2600 and you believe it will climb to 1.2650 before dropping, you can place a Sell Limit at 1.2650.
  When price reaches that level, your sell trade opens automatically.

3. Buy Stop

A Buy Stop order is placed above the current market price.
You use it when you expect the price to continue rising after breaking a resistance level.

• Example:
  If USD/JPY is trading at 150.00 and you believe that a break above 150.30 will continue upward, you can place a Buy Stop at 150.30.
  Once the price hits 150.30, your buy position opens.

4. Sell Stop

A Sell Stop order is placed below the current market price.
You use it when you expect the price to continue falling after breaking a support level.

• Example:
  If XAU/USD (Gold) is trading at 2350.00 and you believe that a break below 2340.00 will continue downward, place a Sell Stop at 2340.00.
  When the price drops to 2340.00, your sell trade opens automatically.

When to Use Pending Orders

• Buy Limit / Sell Limit: When you expect a price retracement (price moving against the trend before continuing).
• Buy Stop / Sell Stop: When you expect a breakout (price breaking through support or resistance levels).

Pending orders are ideal for range trading, breakout trading, or when you trade during times of low market activity but expect a future move.

How to Place Pending Orders on MT5 Mobile (Step-by-Step Guide)

Here’s how to set pending orders using the MetaTrader 5 (MT5) mobile app:

Step 1: Open Your MT5 App

• Launch your MT5 mobile app and log into your trading account.
• Go to the Quotes tab and select the currency pair or synthetic pair you want to trade.

Step 2: Open the Order Window

• Tap the pair name (e.g., EUR/USD).
• Select New Order.

Step 3: Choose ‘Pending Order’

• Under “Type,” tap and select Pending Order instead of “Market Execution.”

Step 4: Select Order Type

• Choose one of the four types:
  • Buy Limit
  • Sell Limit
  • Buy Stop
  • Sell Stop

Step 5: Set Price Level

• Enter the exact price where you want your trade to trigger.
  (For example, Buy Limit at 1.0900 or Sell Stop at 1.2500).

Step 6: Set Stop Loss and Take Profit

• Add your Stop Loss (SL) and Take Profit (TP) levels to manage risk and reward automatically.

Step 7: Set Expiry (Optional)

• You can choose an expiry time for the pending order if you don’t want it to remain open indefinitely.

Step 8: Confirm

• Review the details carefully.
• Tap Place to confirm the order.

Your pending order is now active! It will automatically execute when the market reaches your set price.

Example on MT5 Mobile

Let’s say you want to trade EUR/USD, currently at 1.1000.
You expect price to fall to 1.0970 before rising.

• Order Type: Buy Limit
• Price: 1.0970
• Stop Loss: 1.0950
• Take Profit: 1.1030

After entering these values, tap Place and MT5 will handle the rest automatically.

In Summary

Pending orders are powerful tools for every trader who values precision, planning, and discipline.
They allow you to take advantage of opportunities even when you’re not watching the market, and help avoid emotional trading mistakes.

Mastering how to use pending orders especially on MT5 mobile can greatly improve your entry timing, risk management, and overall trading performance

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