Level 3 · Lesson 4 of 12 · 4 min read
Placing Pending Orders: Step by Step
Set your order in advance and let the market come to you.
Researched and written by Laurent How to Place a Pending Order
The process is almost identical to a market order, with one key difference: you change the order type.
Placing a Buy Limit Order
1
Open New Order window (F9 or toolbar)
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2
Change Type: From "Market Execution" to "Pending Order"
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3
Select pending type: Buy Limit, Sell Limit, Buy Stop, or Sell Stop
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4
Set the price: The level at which you want the order to trigger (e.g., 1.0800)
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5
Set lot size, SL, and TP just like a market order
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6
Click "Place." The pending order appears in your Terminal. It waits.
Managing Pending Orders
- Modify: Right-click the order in Terminal > Modify. You can change the trigger price, SL, and TP.
- Delete: Right-click > Delete. The order is cancelled with zero cost.
- Expiry: Optionally set an expiry date/time. If the price doesn't reach your level by then, the order is automatically cancelled.
On your chart, pending orders show as dashed horizontal lines at the trigger price. The SL and TP also appear as lines if set.
Practice this on demo: Set a Buy Limit 30 pips below current price. Set a Sell Limit 30 pips above. Set a Buy Stop 30 pips above. Watch which ones trigger and how the platform handles them. Then cancel the rest. This exercise builds muscle memory for order management.
Key Takeaways
- • Change the order type from "Market Execution" to the pending type you want.
- • Set the trigger price (the price at which the order activates).
- • You can set SL and TP on pending orders before they trigger.
- • If the market never reaches your price, no trade opens and no money is spent.