How to Place Pending Orders in MetaTrader 5 (MT5) | A Simple Guide

Introduction

This guide explains, step by step, how to place pending orders on the MetaTrader 5 (MT5) platform. Pending orders allow traders to set trades in advance at specific price levels, enabling better planning and execution.

1. Navigating the Market Watch Window

Open the Market Watch window to view all available instruments.
Select the desired trading instrument before placing an order.

2. Creating a New Pending Order

Right-click the chosen instrument in the Market Watch window.
Select New Order from the menu.
In the order window, change the order type from Market Execution to Pending Order.

3. Types of Pending Orders in MT5

MT5 supports six pending order types:

Buy Limit – Buy below the current market price.
Sell Limit – Sell above the current market price.
Buy Stop – Buy above the current market price.
Sell Stop – Sell below the current market price.
Buy Stop Limit – A stop order that triggers a limit buy.
Sell Stop Limit – A stop order that triggers a limit sell.

4. Setting Entry Prices Correctly

Buy Limit & Sell Stop → must be placed below current market price.
Buy Stop & Sell Limit → must be placed above current market price.
Incorrect placement will disable the order button.

5. Configuring Lot Size, Stop Loss, and Take Profit

Enter the lot size (position size).
Define a Stop Loss (SL) to limit potential loss.
Set a Take Profit (TP) level to lock in gains.

6. Expiration Options: GTC vs Expiry Date

Good Till Cancelled (GTC): Order remains active until executed or canceled.
Expiry Date: The order will be canceled automatically on the chosen date/time if not triggered.

7. Monitoring and Managing Pending Orders

Open the Trade tab to view all active pending orders.
Enable Trade Levels in chart settings to see pending orders directly on the chart.

8. Quick Chart-Based Order Placement (Pro Tip)

Right-click directly on the chart at the desired price level.
Select the appropriate pending order type from the menu.
This shortcut speeds up execution during volatile market conditions.

Conclusion

Pending orders in MT5 allow traders to prepare trades in advance and manage risk more effectively. By choosing the correct order type, setting prices accurately, and using risk controls like stop loss and take profit, traders can improve consistency. MT5’s expiration options, trade monitoring features, and chart-based shortcuts make it a versatile tool for both new and experienced traders.