Pending order

A pending order is a pre-set order that only executes if price reaches a chosen level: limit or stop, to buy or to sell.

On MetaTrader, pending orders include Buy Limit, Sell Limit, Buy Stop and Sell Stop, plus Buy Stop Limit and Sell Stop Limit on MT5. They let you set up a trade without sitting in front of the screen.

You can attach a stop loss and a take profit from the start, as well as an expiry date. It is an excellent way to follow your plan: the entry level is decided calmly, not in the heat of the moment.

Remember to cancel them if the context changes, for example before a major release that would invalidate your scenario. A forgotten order can be filled days later in a completely different market.

The full lessonOrder types: market, limit, stop, OCO and trailing stopMarket, limit, stop, stop-limit, OCO, trailing stop, take profit and stop loss orders: how each trading order type works and when you should use each one.