What are the buy stop limit and sell stop limit and how to use Buy Stop Limit & Sell Stop Limit on the mt5 trading platform? If you want to know what is buy stop limit and sell stop limit then watch this video till the end. I will clear all your concept of buy stop limit and sell stop limit example.
The buy stop limit and sell stop limit is the combination of buy limit and buy stop and sell limit and sell stop respectively.
00:00 - What is buy stop limit and sell stop limit
00:55 - buy stop limit and sell stop limit example
01:51 - How to use Buy Stop Limit & Sell Stop Limit in MT5
By the way,
If you haven't watched my videos on buy stop and sell stop you can check out the video by clicking the I button.
Now, If you are searching on the web that explain buy stop limit & sell stop limit in forex. You are at the right place. In my channel, I am going to share with you and describe the buy stop limit sell stop limit in forex.
Below I am explaining the buy stop limit and sell stop limit for mt5 platform.
buy stop limit combines the two first types being a stop order for placing Buy Limit.
As soon as the future Asks price reaches the stop-level indicated in the order (the Price field), a Buy Limit order will be placed at the level, specified in the Stop Limit price field.
A stop level is set above the current Ask price, while a Stop Limit price is set below the stop level.
Let us try to understand this,
let us say,
You are a breakout trader and enter a trade at the retest of important levels.
Lets us assume you found an entry on Eur/GBP
You saw that the price is near the support area and as you are a breakout trader, you will wait for the price to break the support and then enter at the retest of that area.
For that, you can use a sell stop limit.
For that, you will need two prices.
1st price will tell the confirmed breakout of the support level and other prices will tell the confirmed retest of the level.
In this case,
the price which confirms the breakout will be 0.88476 and the price which confirms the retest will be 0.88725.
So, as you want to enter at the retest of the level.
You will have to enter the breakout price in the section and the retest price at the stop limit price section while placing a sell stop-limit order.
Let us see how to do that on the mt5 trading platform.
For that right-click on the chart, go to the trading option and click on the new order.
Now here choose the currency pair.
As we are using EURo GBP, we will choose Eur GBP.
Now, in the order type choose pending order.
As we want to open a sell stop limit, choose the sell stop limit.
enter the lot size here.
Now,
in the price section, we will enter the breakout price, which is 0.88476, and in the stop limit section, we will enter the retest price which is 0.88725.
Now enter the stop loss and take profit.
Set the expiration time and click on the place.
Your sell stop limit will be placed.
In this order, when the price breakouts of the support zone and triggers this price, a sell limit will be automatically entered at the retest level which you choose and the trade will only get executed after the price reaches the level.
So this is what a stop-limit order is.
The buy stop limit is just the opposite of the sell stop limit and you have to go through the same steps to place a buy stop limit.
This order can be very beneficial in trading if you want to limit or remove the emotions out of your trading but the disadvantage is many times price does not retrace to your desired level and hence your trade may not be executed.
So I am sure you will get answers to all questions like what is buy stop sell stop buy limit sell limit mt4, buy stop limit & sell stop limit with an example, etc.
#mt4 #mt5 #metatrader #forextrading #forex #forexprofit #forexmarket #tradingmarket #tradingstrategy
Forex Monopoly - [ Ссылка ]
....................................................................................................
Our Social Links
Instagram - [ Ссылка ]
Twitter - [ Ссылка ]
Pinterest - [ Ссылка ]
Linked In - [ Ссылка ]
TradingView - [ Ссылка ]
Facebook - [ Ссылка ]
