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What is Buy Limit and Sell Limit in Forex ? How to Use Buy Limit and Sell Limit in mt4, mt5 and mql5
what is buy limit and sell limit and how to use it in mt4.As the name suggests buy limit and sell limit falls under the limit order category.
A buy limit is a type of order in which you order your broker that you want to open a buy trade when the price reaches your desired or mentioned price level.
And,
A sell limit is a type of order in which you order your broker to open a sell trade when the price reaches your desired or mentioned level.
00:00 - What is Buy Limit and Sell Limit in Forex
01:32 - How to Use Buy Limit and Sell Limit in mt4
03:00 - How to Use Buy Limit and Sell Limit in mt4 mobile .
Note, to enter a buy limit the current price should be above your desired level.
To enter a sell limit, the price should be below your desired level.
These types of orders very important when you don't have enough time to look at charts throughout the day and want to open a trade at the desired level through your analysis.
For example,
Let's say you did your analysis on Usd/Jpy and found that 106.720 level would be a good buy for you.
So, if you don't have enough time to watch the price till it moves to your level so that you can enter a trade there.
You can directly enter a buy limit at 106.720 from your mt4 trading platform.
And the trade will automatically open when the price reaches your desired level.
Let's see how you use or place a buy and sell limit on mt4 trading platform.
To open a limit order on mt4 trading platform right click on the chart,
now go to trading and click on the new order.
Now, choose the currency pair on which you want to place a limit order.
In the type of order, choose pending order.
In the type of limit order, choose the buy limit if you want to place a buy limit or choose the sell limit if you want to place a sell limit.
Enter the lot size here.
#mt4 #mt5 #metatrader
Set the stop loss and take profit
Now in expiration time choose the time period for which you want to keep this order valid.
Gtc means good till canceled, that is the order will stay intact until you don't cancel it.
If you choose today, this order will get cancel if the price doesn't come to your level on that particular day.
If you choose specified, you can enter the date and time and in the specified day you can enter the date
After you are done with everything click on the place button and your limit order will be placed.
The order will be visible here and you can easily modify or delete the order by double-clicking on it.
Now, for those who use mt4 on smartphones.
To place buy or sell limit,
Go to the trade option.
Now select the currency pair you want to open a limit order on.
Click on market execution, choose the order type.
Enter the lot size,
The price at which you want to place a limit.
Set the take profit and stop loss,
expi
...
https://www.youtube.com/watch?v=qgMyobHc5ys
A buy limit is a type of order in which you order your broker that you want to open a buy trade when the price reaches your desired or mentioned price level.
And,
A sell limit is a type of order in which you order your broker to open a sell trade when the price reaches your desired or mentioned level.
00:00 - What is Buy Limit and Sell Limit in Forex
01:32 - How to Use Buy Limit and Sell Limit in mt4
03:00 - How to Use Buy Limit and Sell Limit in mt4 mobile .
Note, to enter a buy limit the current price should be above your desired level.
To enter a sell limit, the price should be below your desired level.
These types of orders very important when you don't have enough time to look at charts throughout the day and want to open a trade at the desired level through your analysis.
For example,
Let's say you did your analysis on Usd/Jpy and found that 106.720 level would be a good buy for you.
So, if you don't have enough time to watch the price till it moves to your level so that you can enter a trade there.
You can directly enter a buy limit at 106.720 from your mt4 trading platform.
And the trade will automatically open when the price reaches your desired level.
Let's see how you use or place a buy and sell limit on mt4 trading platform.
To open a limit order on mt4 trading platform right click on the chart,
now go to trading and click on the new order.
Now, choose the currency pair on which you want to place a limit order.
In the type of order, choose pending order.
In the type of limit order, choose the buy limit if you want to place a buy limit or choose the sell limit if you want to place a sell limit.
Enter the lot size here.
#mt4 #mt5 #metatrader
Set the stop loss and take profit
Now in expiration time choose the time period for which you want to keep this order valid.
Gtc means good till canceled, that is the order will stay intact until you don't cancel it.
If you choose today, this order will get cancel if the price doesn't come to your level on that particular day.
If you choose specified, you can enter the date and time and in the specified day you can enter the date
After you are done with everything click on the place button and your limit order will be placed.
The order will be visible here and you can easily modify or delete the order by double-clicking on it.
Now, for those who use mt4 on smartphones.
To place buy or sell limit,
Go to the trade option.
Now select the currency pair you want to open a limit order on.
Click on market execution, choose the order type.
Enter the lot size,
The price at which you want to place a limit.
Set the take profit and stop loss,
expi
...
https://www.youtube.com/watch?v=qgMyobHc5ys
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There are two different types of orders in forex, what is a market order in forex
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