Pending Orders are applied in many Forex pending for entries in positions. However, many Forex traders neglect it, preferring Market Executions. We will find out what is its difference from market execution orders and its benefits. We will consider the types of pending orders and when they should be used. As well as we will consider how to edit, delete, and move it and so on. What is Market Execution? Market execution is an entry at the price that the market currently offers. For example, at the moment the currency pair EURUSD is 1. This applies to market orders. We buy and sell at the current price at once. But what happens when we place pending order? How it differs from the market order? We have several types of pending orders below. In the next graph, we have to choose the price at which we want to place our pending sell order. Let it be 1. So we have a pending order to sell at the price 1. Beginner traders immediately raise a logical question: If forex think strategy price will fall, why not sell now at the order market price? After all, when the price will move down, we will get a head start in a certain number of pips on which we will put a pending order. So why use a pending order if we can sell immediately? The fact is that when we place pending orders, we give ourselves some insurance in case the price will not reach our order, if it turn around and go upward. In this case we will cancel strategy pending order, delete it and lose absolutely nothing:. But if we would have sold at the market price available at the moment and the price would have turned around dramatically, we would have got a loss. Thus, using pending orders, we pay those pips, which could theoretically benefit by selling immediately. We increase our chance of a positive outcome of the trade, but we pay the price of our potential profit. Although theoretically we are losing a few pips of price movement by setting a pending order. So when the price reaches our pending orders, which we have set on 1. In what cases order it help? You decided that you need to buy on the close of this candle. You can buy at the price available at the moment. Or you can place a pending order just above the high point of this price. This way, you insure yourself against a possible price reversal. And if the price go even higher, and your buy signal is forex, then we will buy automatically at the point of placing this pending order. On the next candle the price reversed and went downwards. What do you do in this case? You have not incurred any losses. But in case, if you opened the order at strategy current market price on this candle you would have suffered losses. Probably, Stop Loss would have triggered and accordingly you would have lost some pips. Thus, a pending order is a kind of insurance against price reversal. But the price may reach a pending order and then turn around and bring loss. It is a matter of analysis, accuracy of entry and the like. In this article, we only examine work with pending orders. So when we place Buy Stop above the current price, it is like we speak to our broker to buy, when the price reaches a certain point. When placing orders you may have noticed that we have several types of pending orders. We set the values below the current price. What does this mean? When the price goes downwards to the level of our pending order, we will automatically pending. That is, you have calculated that at the level of 1. You can sit and wait it for hours. And this is not the fact that you will have time to get it at this point when forex chart will move upwards to the level you have calculated. As in the case with BuyLimit, when the price move upward and reach our level of pending SellLimit order, we will automatically sell. This can be useful if you think that the price will reverse and will move downward after this level. If you want to strategy above the current price, then you need to place Sell Limit. If you want to sell below the current price, then place Sell Stop. If you want to buy above the current price, then place Buy Stop. And if you want to buy below the current price, then place Buy Limit. This refers to the types of pending orders. When placing a pending order you have the possibility to set not only the price and type, but immediately set Stop Loss and Take Profit. And in the opened menu forex can set or change the values of Stop Loss and Take Profit if you suddenly decided to change them. You can easily fix it. The value that we have set is added to it. Thus, the pending order will be deleted. The broker does not take commissions for these actions. That is, you can place or remove them many times. I hope that this article helped you better understand what pending order is, how it works and when you can use it. Omega WordPress Theme by ThemeHall. Home Forex For Beginners Forex Brokers Learn To Trade Forex Robots All Posts Trading Tools Pending Calendar Forex Market Hours Online Quotes Forex Charts Lot Size Calculator Margin Calculator Binary Options Binary Options Brokers Bonuses. Pending Orders on Forex August 6, by Michael 1 Comment. How to trade with pending orders on Forex? The situation with pending order Sell Limit is similar. Trading Against The Trend Pending Action: Forex for Beginners Tagged: Lesson 1 - Believe in Yourself and Change Your Life! Your site is actually great. Keep posting that way, bro. Categories Binary Options Currency Pairs For Traders Forex for Beginners Forex Indicators Forex Robots Forex Trading Psychology Forex Trading Strategies Price Action. Have To Look The 5 Steps to becoming a trader How to install a Forex Robot? 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On February 26, 2012 an unarmed seventeen year old, African American boy by the name of Treyvon Martin. was fatally shot by a twenty eight year old, Hispanic man named George Zimmerman.