WHAT ORDER TYPES ARE AVAILABLE IN METATRADE5?

• There Are Two General Order Types: Market And Pending.
• Market Order Is An Order To Open A Position At The Current Market Price.
• Pending Order Is An Order To Open A Position Once The Price Reaches A Certain Predefined Level.

There Are Six Types Of Pending Orders To Choose From.

• Buy Limit Is An Order To Buy An Asset At A Price Lower Than The Current One. Traders Usually Open It In Anticipation That The Asset Price Will Rise After Achieving A Certain Support Level.
• Buy Stop Is An Order To Buy An Asset At A Price Higher Than The Current One. Traders Usually Open It In Anticipation That The Asset Price Will Continue To Rise Further After Breaking Above A Certain Resistance Level.
• Buy Stop Limit Is A Joint Work Of Buy Stop And Buy Limit, Which Traders Use In Anticipation Of The Asset Price Decrease Before It Continues To Rise. First, You Set The Alarm For A Price Higher Than The Current One And Specify The Stop Limit Price. When The First Price Is Triggered, A Buy Limit Order Is Placed Automatically.
• Sell Limit Is An Order To Sell An Asset At A Price Higher Than The Current One. Traders Usually Open It In Anticipation That The Asset Price Will Decrease After Achieving A Certain Resistance Level.
• Sell Stop Is An Order To Sell An Asset At A Price Lower Than The Current One. Traders Usually Open It In Anticipation That The Price Will Continue To Decrease After Breaking Below A Certain Support Level.
• Sell Stop Limit Is A Joint Work Of Sell Stop And Sell Limit, Which Traders Use In Anticipation Of The Asset Price Increase Before It Continues To Decline. First, You Set The Alarm For A Price Lower Than The Current One And Specify The Stop Limit Price. A Sell Limit Order Is Placed Automatically When The First Price Is Triggered.