Question:How to set "Pending Orders" on MT5 (MetaTrader5) trading platform?

Answer:

A pending order is an instruction to open a position when the instrument reaches a certain price pre-defined by you.

You can place a pending order via the main “Order” window.

To open the “new order” window, you can simply click on “New Order” on the trading platform.

mt5 new order window metatrader5

After opening a order window, please change the “Type” from “Market Execution” to “Pending Order”, then the below window will be shown.

metatrader5 mt5 order window pending orders

A drop-down menu will then appear that will ask you to specify whether the pending order you are about to place is a Buy Limit, Sell Limit, Buy Stop, Sell Stop, Buy Stop Limit or Sell Stop Limit Order, and will allow you to set limit price and expiry date and time.

This is a “pending order” to open a position, but not closing a position.

If you like to set pending orders(Take Profit and Stop Loss) to your existing open positions, please go to “Tool Box”→”Trade”, right-click on the position which you like to set pending orders, and click on “modify or delete”.

metatrader5 mt5 modify delete tool box order

Pending orders are automatic

As you may already know, all pending orders are executed automatically as you have set on the trading platform.

The information of the pending orders will be sent to the trading server and these orders are still functional even when your trading platform is closed or logged out.

But “Trailing Stop” order is different as the trading servers will not receive the information of “Trailing Orders” and it is only functional on your trading platform.

Meaning that “Trailing Stop” orders would be cancelled if you have closed your trading platform, or logged out.

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