Once placing a Forex pending order, you have the option of placing stop losses and limit orders. This is beneficial if you do not wish to continuously monitor the market until your desired pair reaches your set level and an essential move for trading risk management.
Learn from this step-by-step video guide on how to place a Stop Loss and Limit Order on the MetaTrader 4 (MT4) platform.
Please note: This video was created for the 2011 version of MT4. The same principles and actions still apply to newer versions but the look and location of certain functions may have changed.