Forex Trading Secrets Revealed

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How To Place Pending Orders In Forex Trading with Stop Loss And Take Profit

Today I’m going to teach you all about Pending Orders.

Let’s just started we have already studied “How to Place a new order” but we didn’t study with stop loss and Take Profit.

First you need to place a new order of any currency’s pair you like then double click on that particular order a new window would appear. Check out the below picture

 

 

 

As you can see above picture. Here I would like to tell you something regarding Stop Loss and Take Profit.

Stop Loss:

A trade with Stop loss And Take profit would be more secure that’s why most of traders always used
this.

What is Stop Loss and why we are using this?

Stop loss is actually working when we have limited Capital and in order to secure our amount all the traders have been using placing orders with Stop Loss. When we place orders with SL we actually driving cars with seat belt. It means if in a case an accident happens we will be secure.

Take Profit:

Placing our orders with Take Profit is also making our capital secure and reliable. It make us more confident and satisfaction.

The Question comes in your mind when and how we do know where to place Stop Loss And Take Profit.

This Question is not easily a lot of traders have been looking for this answer but I got something which will surely help you to figure out where to put SL and TP.

Follow these Instructions below

1. Before placing any order you must have technical Analysis of that Particular Currency pair.

2. Before placing any order you must know their Fundamental Analysis. ( Go to Intermediate Course and find Fundamental Analysis Topic )

3. The third and most important thing your candle whether it is Bullish Or Bearish. Their shadow will tells you exactly where and how long the next candle would be.

You can put your Stop Loss and Take Profit according to this.All you need to do is put your desire value in the particular column and let your horse run. After you have successfully placed your order with SL and TP. You don’t need to look to at your order again and again or stop worrying about it.

Now Let’s just talk about Pending order.

Go to any currency’s pair press new order or press “F9 key”.

Follow these steps below

Go the Type option and hit Pending order.

 

 

 

 

 

Now you would probably see a new window go the Type option below next to your desire currency’s pair. Select “Buy Stop” if you are going to buy that currency pair or select Sell Stop if you want to sell the pair.

Now Hit Place button and your order would go the server you will see a box going to appears that
your order is now accepted.