How to Place Pending Orders on Exness
Exness is a popular online trading platform that provides a range of trading instruments, including forex, commodities, and cryptocurrencies. One of the essential features available on Exness is the ability to place pending orders. Pending orders allow traders to set specific price levels at which they want to buy or sell an asset, enabling them to execute trades without having to constantly monitor the market. This guide will explore the steps involved in placing pending orders on Exness .
What are Pending Orders?
Pending orders are trade orders that are not executed immediately but are instead set to trigger at a specified future price. This feature is beneficial for traders who want to enter the market at a specific price point without having to be active in front of their trading platform constantly. There are several types of pending orders, including:
- Buy Limit: Enables you to buy an asset at a specified price lower than the current market price.
- Sell Limit: Allows you to sell an asset at a specified price higher than the current market price.
- Buy Stop: Lets you buy an asset at a specified price higher than the current market price.
- Sell Stop: Enables you to sell an asset at a specified price lower than the current market price.
Steps to Place a Pending Order on Exness
Step 1: Log into Your Exness Account
The first step to placing a pending order is to log into your Exness trading account. You can do this by visiting the Exness website and entering your login credentials. Ensure that you have two-factor authentication enabled for added security.
Step 2: Select the Trading Instrument
Once you are logged in, navigate to the trading section of the platform where you want to place your pending order. Select the trading instrument (such as forex pairs, commodities, or cryptocurrencies) that you wish to trade.
Step 3: Open the Order Window
After selecting your trading instrument, find the option to open the order window. This can typically be done by clicking on the "Trade" button or "New Order" option. A window will appear, allowing you to fill in the details of your order.
Step 4: Choose the Order Type
In the order window, you will find options to choose the type of order you want to place. Here, select "Pending Order" as the order type. Depending on your trading strategy, choose whether you want to place a buy limit, sell limit, buy stop, or sell stop order.
Step 5: Set the Price Level
Next, you will need to enter the price level at which you want your pending order to be executed. This price should align with your trading strategy and technical analysis. Ensure that the price is accurately entered to avoid any mistakes that could lead to unwanted trades.
Step 6: Define Additional Order Parameters
After setting the price level, you may also have the option to define additional parameters for your order, including:
- Volume: Specify the amount of the asset you wish to buy or sell.
- Take Profit: Set a target price at which your trade will automatically close to lock in profits.
- Stop Loss: Set a price point at which your trade will automatically close to limit potential losses.
Step 7: Review Your Order
Before finalizing your pending order, take a moment to review all the details you have entered. Double-check the order type, price level, volume, and any additional parameters. Ensuring accuracy is crucial to executing your trading plan effectively.
Step 8: Place the Pending Order
If everything looks correct, complete the process by clicking the "Place Order" or "Submit" button. Your pending order will then be set, and you will receive a confirmation message about the order's successful placement.
Monitoring Your Pending Orders
After placing your pending orders, it is essential to monitor them regularly. You can view all your open pending orders in the "Orders" section of your trading account. Here, you will be able to check the status of your orders and make any necessary adjustments if your trading strategy changes.
Editing or Deleting Pending Orders
If you need to make changes to your pending orders, Exness allows you to edit or delete them. To do this, navigate back to the "Orders" section, select the pending order you wish to modify, and choose the option to edit or delete. Make sure to confirm any changes you make, as this will ensure your orders reflect your current trading strategy.
Conclusion
Placing pending orders on Exness is a straightforward process that can significantly enhance your trading experience. By following the outlined steps, you can efficiently manage your trades and take advantage of potential market movements. Remember that while pending orders can help automate your trading strategy, thorough market analysis and risk management practices are essential for successful trading.
For further assistance or specific questions about your Exness account, consider contacting Exness customer support for personalized guidance.
