What are pending orders?

 

·       There are two transactions types; instant execution and pending orders.

·       Whereas instant execution opens a transaction at the price currently quoted on the Range of markets, pending orders allow you to set orders that will be activated once the price reaches a level chosen by you.

·       There are four types of pending orders that you can utilise at Trade XN and they include:

1. Buy Stop

The Buy Stop order allows you to set a buy order above the current market price. What this means is that if the current market price is $20 and the set Buy Stop price is $22, then once the market reaches the price level of $22, a buy transaction will be executed on this market.

2. Sell Stop

The Sell Stop order Tradexn allows you to set a sell order below the current market price. What this means is that if the current market price is $20 and the set Sell Stop price is $18, then once the market reaches the price level of $18, a sell transaction will be executed on this market.

3. Buy Limit

The Buy Limit order allows you to set a buy order below the current market price. What this means is that if the current market price is $20 and the set Buy Limit price is $18, then once the market reaches the price level of $18, a buy transaction will be executed on this market.

 

4. Sell Limit

The Sell Limit order allows you to set a sell order above the current market price. What this means is that if the current market price is $20 and the set Sell Limit price is $22, then once the market reaches the price level of $22, a sell transaction will be executed on this market.

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