Order types in MetaTrader 4: market, limit and stop

Knowing which order type to use at each moment is essential to trade well in MetaTrader 4. There are immediate execution orders and pending orders that activate at a future price. In this guide we explain each one.

Market order

It is the order that executes immediately at the current price. You use it when you want to enter or exit the market right now, without waiting for a specific price.

Limit orders

• Buy Limit: a pending buy below the current price, to enter cheaper.
• Sell Limit: a pending sell above the current price, to sell higher.

Stop orders

• Buy Stop: a pending buy above the current price, to enter on a bullish breakout.
• Sell Stop: a pending sell below the current price, to enter on a bearish breakout.

Final tip: limit orders are used to trade pullbacks and stop orders to trade breakouts. Combining them with stop loss and take profit lets you plan the entire trade in advance.