Pending Orders

[Rambo35]

I don't know about you guys, but most of my orders with very few exceptions are usually pending orders. Of course it comes down to trading strategy and preference, but in my case it is roughly 99% pending orders and 1% market orders.

I am not saying one is better than the other, every trader needs to decide what suits their trading style best. This is just something I have noticed a while ago.

What about you guys? Is is a mix of both or do you tend to use one more than the other?

 

[Pharaoh]

I've used both. The advantage of pending orders is that if you have a system which uses them, you can place the pending orders and walk away from your terminal instead of sitting there waiting for price to reach your trigger level. The only drawback is that if there's a sudden change in market conditions, those orders will execute blindly. Make certain to include an expiration time when you set one.

 

[Marmot]

I like to use pending orders as well, but they are not very useful for scalpers (which i'm not).

 

[tohalan]

Hi , recently I placed a buy stop of 0.20 lots GBPUSD. at 1.6090. at 07 Nov 13 13:57:51 MT4 time, I have modified the pending order to have a SL of 1.6080. At 13:49, the trade was triggered becoming a live Buy order at 1.6090. Does this happen to anyone here while modifying order automatically become a live buy ? The ask price did not hit 1.6090, not even 1.6087. I really do not know what to do.. Any advice ?

 

[alanrox]

I like to use pending orders as well, but they are not very useful for scalpers (which i'm not).

But we cannot ignore pending orders at all. We can use limit or stop orders according to the situation

 

[Rambo35]

But we cannot ignore pending orders at all. We can use limit or stop orders according to the situation

In the end it all comes down to preference and strategy.

 

[willforex]

But we cannot ignore pending orders at all. We can use limit or stop orders according to the situation

Agree with you Alan. We should know how to use pending orders. That is useful

 

[undertaker]

I also often use pending order, it make my trade more accurate.

 

[Triantus Shango]

well if your broker implements buy stop orders as limit orders (for some reason, i noticed different brokers have different interpretations of the various pending orders traditionally used, rather i should say use different naming conventions), then you it got triggered because the current price was better than the limit of 6090.

 

[Rip Forex]

Only Pending Orders....or you will be sorry.