Trading Bitcoin Place a Pending Bitcoin Order in MT5 iPhone App
How Do I Trade Cryptocurrency and Place a Pending Bitcoin Order in MT5 iPhone App?
There are different types of bitcoin crypto currency orders which a trader can use to trade in Bitcoin Crypto Currency.
Traders should learn and understand about all the various orders so as make use of correct btcusd order for the correct purpose. Most critical thing to remember about this is: Always understand the bitcoin crypto orders you place when btcusd crypto trading. Never place a bitcoin crypto order which you're not entirely knowledgeable about. Given below are basic definitions of the commonly used types of orders:
Types of Market Orders and Types of Pending BTCUSD Orders
Cryptocurrency Market Order
This is the most basic type of btcusd crypto order, market trade order is used to buy or to sell at the current ask quote or bid quote btcusd crypto price. This refers to the quoted bitcoin crypto currency price which appears on your bitcoin crypto currency platform.
This type of bitcoin order is used for buying or selling according to the prevailing exchange rate quotation in Market, the execution is instant. The minute you want to enter a position you can buy & sell the at a click of a button using a btcusd crypto market order.
Limit BTCUSD Orders
These are orders used to execute a new trade after the btcusd market reaches a bitcoin price given by the trader.
Pending orders are used to buy/sell a instrument when it achieves a certain btcusd crypto price target.
When a specific btcusd crypto price level is reached or broken then a bitcoin crypto currency trade entry order is executed.
These Pending BTCUSD Crypto Orders are used to enter a btcusd crypto trade at a specified btcusd crypto price level. It's almost impossible to monitor the btcusd crypto market every second and this is why a bitcoin crypto currency entry order can be handy. If you feel the btcusd crypto market may take a certain action, such as break through a particular bitcoin crypto currency price level which it has been touching but it has not been able to break, you would want to use a BTCUSD Crypto Pending Limit BTCUSD Crypto Order. Once the bitcoin crypto market crosses your given level, your entry limit bitcoin crypto currency trade order is executed.
There are two different types of entry orders - limit bitcoin crypto currency order and stop entry order.
The entry orders are also referred to as pending bitcoin crypto currency trade orders.
Bitcoin Crypto Currency Pending Limit BTCUSD Order
An order to buy/sell at a specific limit.
An entry limit bitcoin order can be used to open buy below the prevailing bitcoin price or sell above the prevailing bitcoin price.
When buying, bitcoin crypto currency entry limit is executed when the btcusd crypto price drops to your limit level.
When selling, btcusd crypto entry limit is executed when the bitcoin crypto currency price rises to your limit level.
These Bitcoin Pending Limit Bitcoin Orders are placed by bitcoin traders when they expect the btcusd market to bounce back after reaching to the bitcoin price level that the bitcoin entry limit order was set.
- Buy Limit Bitcoin Crypto Currency OrderSpecifies to open buy at a level that is below the prevailing bitcoin crypto currency market price
- Sell Limit BTCUSD OrderSpecifies to open sell at a level that is above the prevailing bitcoin crypto currency market price
Pending BTCUSD Crypto Orders
A bitcoin entry stop pending order to buy above the current bitcoin price or to open sell below the prevailing bitcoin price.
When buying, bitcoin entry stop order is executed as the btcusd market goes up and hits the buy stop level.
When selling, bitcoin entry stop order is executed as the btcusd market goes down and hits the sell stop level.
- Buy Stop BTCUSD OrderSpecifies to open buy at a level that is above the prevailing market price.
- Sell Stop BTCUSD Crypto OrderSpecifies to open sell at a level that is below the prevailing market price.
Interpret and Place a Pending Bitcoin Order in MetaTrader 5 iPhone App?
