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Place limit/stop/stop-limit order on the new order window

In MetaTrader (MT4) / MetaTrader5 (MT5), you can specify the price when placing a "limit order" and "stop order", as well as "stop-limit order" only in MT5.

The "limit order" will be executed when the rate becomes more favorable than the current rate, and the "stop order" will be executed when the rate becomes less favorable than the current rate. The "stop-limit order" will execute a limit order once the rate reaches a predefined trigger price.

Here we'll take a look at how to place a limit/stop/stop-limit order on the new order window on MT4/MT5.

Switch between MT4/MT5 tabs to check the steps for each.

mt4
mt5

Step 1

Click "New Order" in the toolbar.

Related article: Open the new order window

Open the new order window Open the new order window

Step 2

Click the "Symbol" field to choose the symbol to place an order for.

Choose the symbol to place an order for Choose the symbol to place an order for

Step 3

Click the "Type" field and select "Pending Order".

Select Pending Order for order type Select Pending Order for order type

Step 4

Click the "Type" field in the "Pending Order" frame and select a type of limit/stop order.

Select a type of limit/stop order Select a type of limit/stop order
  1. Buy Limit

    Buy Limit

    If you place a buy order by specifying a lower price than the current, select Buy Limit. Enter a price that is lower than the current Ask price.

  2. Buy Stop

    Buy Stop

    If you place a buy order by specifying a higher price than the current, select Buy Stop. Enter a price that is higher than the current Ask price.

  3. Sell Limit

    Sell Limit

    If you place a sell order by specifying a higher price than the current, select Sell Limit. Enter a price that's higher than the current Bid price.

  4. Sell Stop

    Sell Stop

    If you place a sell order by specifying a lower price than the current, select Sell Stop. Enter a price that's lower than the current Bid price.

knowledge Stop-limit orders are available on MT5

On MT5, "Buy Stop Limit" and "Sell Stop Limit" orders can also be placed.

Step 4 Step 4

Step 5

Set the trade volume in lots in the "Volume" field and the order price in the "at price" field. Set the stop-loss (S/L), take-profit (T/P), expiry time, and comment as necessary.

Limit order settings Limit order settings

Number

Item name

Descriptions

1

Volume

Set the trade volume in lots. Type the volume or choose it from the pull-down menu.

2

Stop Loss

Set the stop-loss (S/L) value. Type the price or use the ▼▲ marks on the right side.

Related article: Set or change T/P and S/L values

3

Take Profit

Set the take-profit (T/P) value. Type the price or use the ▼▲ marks on the right side.

Related article: Set or change T/P and S/L values

4

Comment

You can add comments to an order. Use them as notes for later reference.

5

at price

Set the limit/stop order price. Type the price or use the ▼▲ marks on the right side.

6

Expiry

Set the expiration time for the limit/stop order. Time is based on the server time.

Step 6

Click "Place".

Place a limit/stop order Place a limit/stop order
caution If "Place" is not activated

When placing limit/stop orders, you have to specify a price that's a certain point away from the current price. The difference between the two is called the stop level and it varies by the forex broker, account type, and symbol. If you can't click the "Place" button, adjust the price according to the stop level.

Related article: Check trading conditions

point Tick chart

In MT4's new order window, you can check the tick chart. A tick is the smallest unit of data that represents price. Tick charts detect smaller price changes than any other chart, which will help you execute well-timed orders. From the new order window's tick chart, you can check the order price, Ask, Bid, take-profit (T/P), and stop-loss (S/L) values.

Step 7

Once the order is placed, the order details will be added below the balance line in the "Trade" tab of the Terminal as a pending order.

Pending limit order Pending limit order

The order will be executed once the specified price is reached. The order details will be updated as an open position and moved above the balance line.

Pending order is executed Pending order is executed

Step 1

Click "New Order" in the toolbar.

Related article: Open the new order window

Step 1 Step 1

Step 2

Click the "Symbol" field to choose the symbol to place an order for.

Step 2 Step 2

Step 3

Click the "Type" field and select "Pending Order".

Step 3 Step 3

Step 4

Click the "Type" field and select a type of limit/stop/stop-limit order.

Step 4 Step 4
  1. Buy Limit

    Buy Limit

    If you place a buy order by specifying a lower price than the current, select Buy Limit. Enter a price that is lower than the current Ask price.

  2. Buy Stop

    Buy Stop

    If you place a buy order by specifying a higher price than the current, select Buy Stop. Enter a price that is higher than the current Ask price.

  3. Buy Stop Limit

    Buy Stop Limit

    Select Buy Stop Limit and specify a trigger price higher than the current. Once the trigger price is achieved, a buy limit order will be placed.

  4. Sell Limit

    Sell Limit

    If you place a sell order by specifying a higher price than the current, select Sell Limit. Enter a price that's higher than the current Bid price.

  5. Sell Stop

    Sell Stop

    If you place a sell order by specifying a lower price than the current, select Sell Stop. Enter a price that's lower than the current Bid price.

  6. Sell Stop Limit

    Sell Stop Limit

    Select Sell Stop Limit and specify a trigger price lower than the current. Once the trigger price is achieved, a sell limit order will be placed.

Step 5

Set the trade volume in lots in the "Volume" field. The volume per lot varies by broker's account type and symbol. Set the stop-loss (S/L), take-profit (T/P), and comment as necessary.

Step 5 Step 5

Number

Item name

Descriptions

1

Volume

Set the trade volume in lots. Type the volume or use the ▼▲ marks on the right side.

2

Price

Set the limit/stop/stop-limit price (trigger price to activate the stop-limit order). Type the price or use the ▼▲ marks on the right side.

3

Stop Limit Price

Set the limit price for the stop-limit order. Type the price or use the ▼▲ marks on the right side.

4

Stop Loss

Set the stop-loss (S/L) value. Type the price or use the ▼▲ marks on the right side.

Related article: Set or change T/P and S/L values

5

Take Profit

Set the take-profit (T/P) value. Type the price or use the ▼▲ marks on the right side.

Related article: Set or change T/P and S/L values

6

Expiration/Expiration date

Set the expiration type for the limit/stop order. To specify the date, select "Specified" or "Specified day" in the "Expiration" field and specify the date and time in the "Expiration date" field. Time is based on the server time.

7

Comment

You can add comments to an order. Use them as notes for later reference.

Step 6

Click "Place".

Step 6 Step 6
caution If "Place" is not activated

When placing limit/stop/stop-limit orders, you have to specify a price that's certain points away from the current price. The difference between the two is called the stop level and it varies by the forex broker, account type, and symbol. If the "Place" button is blue or not red, check your price and make sure the deviation isn't smaller than the stop level.

Related article: Check trading conditions

If Place is not activated If Place is not activated
point Tick chart

In MT5's new order window, you can check the tick chart. A tick is the smallest unit of data that represents price. Tick charts detect price movement faster than any other chart, which will help you execute well-timed orders. From the new order window's tick chart, you can check the Ask, Bid, take-profit (T/P), and stop-loss (S/L) values.

Step 7

Once the order is placed, the order details will be added below the balance line in the "Trade" tab of the Toolbox as a pending order.

Step 7-1 Step 7-1

The order will be executed once the specified price is reached. The order details will be updated as an open position and moved above the balance line.

Step 7-2 Step 7-2

Date

Created

 : 2022.08.19

Update

Last updated

 : 2022.11.16

Writer

Takayoshi Nakamaru

Manual production consultant, MBA

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Takayoshi Nakamaru

Nakamaru is a manual production consultant at FINTECS, a company that specializes in creating manuals for their clients.
With a wide range of experience from fintech to entertainment, he presents what user-friendly manuals should be like.
He works with numerous large corporations as an external manual production project manager.

【Business information】
http://www.fintecs.co.jp/profile/

Supervisor

Akira Takagi

Systems engineer, MetaTrader administrator

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Akira Takagi

After graduating from Computer Science at the Uninove, Brazil, in 2014, he has worked on various systems development projects.
He participated as a developer in the launch of forex services in 2019. Since then, he has also been involved in the development of MetaTrader plugins and APIs. He is certified by MetaQuotes as a MetaTrader5 Administrator and active in consulting and advisory as well.

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