Pending execution orders | Vantage FX

Pending execution orders

This type of order allows you to set a level at which you wish to enter (buy or sell) the selected pair. It is useful if you do want to enter the market at certain level, but don’t want to sit around glued to your terminal. You can also select an expiry date.

When you select Pending Order in the main order ‘Type’ drop down window, additional options will appear. You can choose these types of pending orders:
Buy Limit – Places a buy order at a specific ask price. When you place a buy limit, the price should be below the current market price

Sell Limit – Places a sell order at a specific bid price. When you place a sell limit, the price should be above the current market price

Buy Stop – Places a buy order at a particular ask price. When you place a buy stop, the price should be above the current market price

Sell Stop – Places a sell order at a particular bid price. When you place a sell stop, the price should be below the current market price

Buy Stop Limit – A combination of the Buy Stop and Buy Limit orders, used to eliminate slippage. You place a Buy Stop Limit above the current market price. When price reaches your order level, a Buy Limit order is placed. Though these orders eliminate slippage, you do run the risk of your order not being filled.

Sell Stop Limit – A combination of the Sell Stop and Sell Limit orders, used to eliminate slippage. You place a Sell Stop Limit below the current market price. When price reaches your order level, a Sell Limit order is placed. Though these orders eliminate slippage, you do run the risk of your order not being filled.

These are the types of limits you are able to place in this order window:

Take-profit (T/P) – Places an order to exit an active position to capture any existing profits that you may have. It sets a level where the trader is happy to close the trade and walk away with profit.

Stop-loss (S/L) – Places an order to exit an active position to minimise any current losses that you may have. It sets a loss you are prepared to take

Hint!
You can set both stop loss and profit take levels simultaneously in pending orders

Note!
The open prices set must differ from the market price by at least 20 points (2 pips)

In the example above, we are about to place a Buy Limit order at 110.35, with a stop loss at 109.95 and a take profit at 110.95, for 100,000 US Dollars vs. Japanese Yen. (Note: we have not chosen an expiry date). Click ‘Place’ once you are ready to place the order.

Once your order has been placed, you will see your entry, stop loss and take profit orders on your chart:

You can also view your order in your Trading Terminal panel. Pending orders are shown underneath the ‘Balance’ line in the ‘Trade’ tab in the lower Terminal panel.

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