Favorite Warrants in the FOREX market

Very often, the trader does not meet the current market price or there is doubt about their movement in the desired direction. In such a situation, the trader may be obtained pending order. Pending order to Forex market - this is the order of the mediator to achieve a certain market price to buy or sell at that price a number of currencies. After placed the order a trader can make a pause in the monitoring of the market. The mediator is to perform a transaction as soon as the market reaches the level specified in the order. To set a pending order in MetaTrader4 open the «New order» and changed the type of warrant «Pending order». At Forex distinguish four types of pending orders (two depending on the purchase price Ask, and two, depending on the sales price Bid):


Buy Limit - an order is to open a position to buy, if the Ask price would lower or equal to the price of the warrant. In doing so, the current level of prices at the time of installation orders above the value Buy Limit orders;

Buy Stop - an order is to open a position to buy, if the Ask price being higher or equal to the price of the warrant. In doing so, the current level of prices at the time of installation orders below a Buy Stop order;

Sell Limit-order it to open a position to sell if the price Bid will be greater than or equal to the price of the warrant. In doing so, the current level of prices at the time of installation orders below a Sell Limit order;

Sell Stop - an order is to open a position to sell if the price Bid will be less than or equal to the price of the warrant. In doing so, the current level of prices at the time of installation orders above the value Sell Stop orders.


Wrong by a pending order will not be accepted. Errors are usually two parts: the pending order is too close to the current price (the order should not be closer than spread), or incorrectly defined the type of warrant.

You can apply the pending order instead of order Stop Loss - ie put the pending order in the opposite direction - with an open warrant for the "buy", the role of Stop Loss will fulfill a pending order "sell stop", and vice versa, if the transaction to "sell" put " buy stop "


Proper presentation of pending orders will help protect you from unnecessary losses when trading in the FOREX market.

Many times the opening of the pending warrant, instead of the usual orders when trading in the FOREX market allowed me to avoid losses. Like trading system gave the signal for the prompt opening of the position, but then the signal is not confirmed, and by a pending order (the value of slightly more than the value spread) safeguard against erroneous position when opening unexpected broadside market. In Forex, very rapidly the market, all made possible, the risk is very high, so the extra insurance when trading in a pending order does not hurt.