Pending Order: How to open a Buy Limit Order and Sell Limit Order on MetaTrader?

A pending order is when an order is set up by the trader to open at a later time when the price reaches a certain quote. 

To place a Buy Limit order the quote has to be below the current market price. The trader believes that after the price drops to a certain level it will start rising again. 

To place a Sell Limit order the quote has to be above the current market price. The trader believes that after the price rises to a certain level it will start decreasing again. 

To place a Limit Order select the: 

• Symbol - financial instrument (currency pair, commodity etc.). In the example below the symbol is the EUR/USD currency pair.  
• Volume - the size of your position (order volume) in lots.
• Stop Loss (SL) and Take Profit (TP) - you can set a Stop Loss quote for the order to close if the price starts moving in the opposite direction of your position to minimize losses. You can set a Take Profit quote for the order to close once the price reaches a certain level in the direction of your position to secure the accumulate profit. 
• Comment - optionally you can add a comment to the order. 
• Type - select Pending Order
• Pending Order Type - select Buy or Sell Limit
• at price - the quote at which you would like the order to open. 
• Expiry - you can select date when the pending order will expire causing it to be cancelled if the order was not activated (the price did not reach the selected level/quote). 
• Click "Place" 

Take note: to cancel or modify the pending order double click or right click on the created order.