What is pending order?

There are four types of pending orders:

Buy limit  to buy when the ask price gets equal to the specified value. Herewith, the current price is higher than the value of the set order. Typically, the orders of this type are set in reliance on the assumption that the instrument price, having declined to a certain level, will stop its fall and start to grow. It is impossible to set buy limit orders above the current ask price, you have to use buy stop orders for this.

Buy stop  to buy when the ask price gets equal to the specified value. Herewith, the current price level is lower than the value of the set order. Typically, the orders of this type are set in reliance on the assumption that the instrument price will overcome some level and continue to grow. It is impossible to set buy stop orders below the current ask price, you have to use buy limit orders for this.

Sell limit  to sell when the bid price gets equal to the specified value. Herewith, the current price level is lower than the value of the set order. Typically, the orders of this type are set in reliance on the assumption that the instrument price, having risen to a certain level, will stop its uptrend and start to decline. It is impossible to set sell limit orders below the current bid price, you have to use sell stop orders for this.

Sell stop  to sell when the bid price gets equal to the specified value. Herewith, the current price level is higher than the value of the set order. Typically, the orders of this type are set in reliance on the assumption that the instrument price, having dropped to a certain level, will continue to decline. It is impossible to set sell stop orders above the current bid price, you have to use sell limit orders for this.

To set a pending order, you have to click on the New Order window and change the order type from Immediate Execution to Pending Order.

Right after you choose the Pending Order option, some fields will appear for you to specify the order execution conditions: the currency pair, the volume and rate of the position you open, the order type, stop loss and take profit, and, if necessary, to your comment to the order and the expiration date, after which the pending order will be automatically removed. After setting up the required parameters, press the Set Order button to place the order with the specified execution conditions. You can see the order you set in the Terminal field, the Trade tab. To change the conditions of the pending order or to delete it, you have to give the order a right click and select Modify or Remove the Order in the pop-up menu.