Pending Orders????

 

Hi all, I'm a newbie in trading and I've discovered pending orders; so I've been trying using them on a demo account and for the first time I've actually made a bit of a profit. Are there any seasoned traders out there who could give me some good advice on strategies using pending orders as one of the rules in trading FOREX? Maybe there are some handy 'pending order ea s' out there that could simplify things a bit. I don't know what's out there, so I'm just asking to see what is.

 

Yes, pending orders are really helpful when it comes to forex trading, surely you could replicate the same success you recorded on a demo account with a real account too. Pending orders are important when you don't have the time to monitor market prices till they get to your desired point; so all you would do is to set the pending order at the prices you would market prices could eventually touch and you could leave. Once that point (set market prices) is reached, your pending order becomes a market order and it is executed. A popular pending order is the stop loss order.

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