A pending order lets you set a trade in advance: MT4 opens it automatically when price reaches your level, so you don't have to watch the screen. MetaTrader 4 has four types, and the right one depends on whether your level is above or below the current price.
The four pending-order types
- Buy Limit — below the current price; buy a dip, expecting a bounce up.
- Sell Limit — above the current price; sell a rise, expecting a drop.
- Buy Stop — above the current price; buy an upside breakout.
- Sell Stop — below the current price; sell a downside breakout.
The shortcut: a limit order targets a better price than now; a stop order targets price breaking past the current level.
How to place a pending order
-
Open the order window and switch to Pending Order
Press
F9to open the order window, then set Type to Pending Order. -
Choose the pending type
Pick Buy Limit, Sell Limit, Buy Stop or Sell Stop for your level.
-
Set the price, SL/TP and expiry
Enter the trigger price, optional Stop Loss / Take Profit, and an optional expiry.
-
Click Place
Click Place. It waits in
Terminal ▸ Tradeand fills when price reaches the level.
Your trigger price must sit beyond the broker's minimum "stops level" from the current market — set it too close and MT4 rejects the order, the same way it rejects a too-tight stop loss.
Modify or cancel a pending order
Pending orders sit in Terminal ▸ Trade until they trigger. Right-click one and choose
Modify or Delete Order to change the price, SL/TP or expiry — or to delete it. An untriggered
pending order carries no market risk yet, so you can adjust it freely.
When price reaches your level the order becomes a market order, so on gaps or fast moves it can fill with slippage — a Buy Stop especially can fill worse than its level in a sharp breakout. Pair every pending order with a stop loss, and test on a demo. Nothing here is financial advice; most retail traders lose money.
Practise pending orders on a free demo
Open a free MT4 demo and set Buy/Sell Limit and Stop orders with virtual money before using them live.
⚠ Trading forex and CFDs is high-risk and most retail traders lose money. This is not financial advice.
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Related
See how to place a trade, set a stop loss & take profit, and close a trade. New to MT4? Start with how to use MT4.
Frequently asked questions
What are pending orders in MT4?
A pending order tells MT4 to open a trade automatically when price reaches a level you set, instead of right now. MetaTrader 4 has four types — Buy Limit, Sell Limit, Buy Stop and Sell Stop — which differ by whether your level is above or below the current price.
What's the difference between a buy limit and a buy stop?
A Buy Limit is placed below the current price (you want to buy cheaper, expecting a dip then a rise). A Buy Stop is placed above the current price (you want to buy a breakout to the upside). Same direction, opposite logic: limit = better price than now, stop = breakout beyond now.
What's the difference between a sell limit and a sell stop?
A Sell Limit sits above the current price (sell higher, expecting a rise then a drop). A Sell Stop sits below the current price (sell a downside breakout). Limit = a better price than now; stop = price breaking past the current level.
How do I cancel a pending order in MT4?
In the Terminal's Trade tab, right-click the pending order and choose 'Modify or Delete Order', then click the Delete button. Pending orders that haven't triggered can be cancelled any time; you can also set an expiry so they cancel themselves.
Do pending orders expire?
Only if you set an expiry. When you place the order you can leave it as GTC (good till cancelled) or set an expiry date/time, after which MT4 removes it automatically if it hasn't triggered.
Trading foreign exchange and contracts for difference (CFDs) carries a high level of risk and may not be suitable for all investors. Leverage can work against you as well as for you. You could lose some or all of your deposited funds; do not trade with money you cannot afford to lose. Past performance is not indicative of future results. Nothing on MT4Download.com is financial, investment, or trading advice. Consider your circumstances and seek independent advice if needed.