Bitcoin Trading Set Buy Limit Bitcoin Order & Sell Limit Bitcoin Order on MT5
How Do I Trade Bitcoin & Set Buy Limit Bitcoin Order & Sell Limit Bitcoin Order on MT5?
Pending Bitcoin Orders in MetaTrader 5 Bitcoin Trading
To set up these crypto pending cryptocurrency orders in MetaTrader 5 platform, Right click on Bitcoin chart>>> Choose 'Trading'>>> Then Choose 'New'>>> Then on the popup window panel that pops up (illustrated below), under the label 'Type' choose the option of 'pending' instead of 'market execution'>>> Under the pending cryptocurrency trading order options select the pending cryptocurrency order type: for This trade choose either "Buy Limit Bitcoin Order" or "Sell Limit BTCUSD Order" depending on whether you want to set a pending buy or sell order.
Pending Crypto Orders - Setting Buy & Sell Limit Crypto Orders in MetaTrader 5
Limit order definition - Pending limit cryptocurrency order is an order to buy or sell a cryptocurrency at a certain bitcoin price which is a retracement level where bitcoin price is predicted to pullback to before resuming the original Bitcoin trend. Bitcoin Traders use them to buy or sell at better market bitcoin price. These types of pending bitcoin orders are provided for in most online bitcoin trading platforms, for our example we will use the MT5 platform.
An entry pending bitcoin order of this type can be used to buy below the btcusd trading market level (up btcusd trend market retracement) or sell above the btcusd trading market level (downwards bitcoin trend Bitcoin market retracement).
Buy limit Order - When buying, your entry buy limit is executed when the btcusd trading market falls to your set bitcoin price. ( retraces down )
Sell limit Order - When selling, your entry sell limit is executed when the btcusd trading market rises to your set bitcoin price. ( retraces up )
Pending bitcoin orders are placed by bitcoin traders when they expect bitcoin price to bounce back after reaching this level.
- Pending Buy Limit Bitcoin Orderbuy at a level below the current market level.
- Pending Sell Limit Bitcoin Ordersell at a level above the current market level.
Buy Limit Bitcoin Order Example
In the cryptocurrency trading example illustrated below, the buy limit bitcoin order was placed to buy at a bitcoin price below the current market bitcoin price. Point Marked B is the point at which it was set.
Bitcoin Trading Set Buy Limit Bitcoin Order & Sell Limit Bitcoin Order on MetaTrader 5?
The bitcoin trend then retraced and went down to hit the buy entry limit, & afterwards bitcoin price continued to move upward in direction of the original Bitcoin upward cryptocurrency trend. When limit buy order was hit it changed in to a buy.
Bitcoin Trading Set Buy Limit Bitcoin Order & Sell Limit Bitcoin Order on MetaTrader 5?
Sell Limit BTCUSD Order Example
In the sell limit pending bitcoin order example illustrated below a the sell entry limit was placed to sell at a bitcoin price above the current market bitcoin price. This is the level for the bitcoin price retracement.
How Do You Trade Bitcoin & Set Buy Limit Bitcoin Order & Sell Limit Bitcoin Order on MetaTrader 5?
The bitcoin trend then rallied, went up to hit the sell entry limit, & afterwards bitcoin price continued to move downward in direction of the original Cryptocurrency downward trend.
How Do You Trade Bitcoin & Set Buy Limit Bitcoin Order & Sell Limit Bitcoin Order on MetaTrader 5?
When bitcoin price quote got to the set level the order changed in to a sell, this is therefore a nice method to buy or sell at a better bitcoin price after a retracement.
Analyze and Set Buy Limit Bitcoin Order & Sell Limit Bitcoin Order on MetaTrader 5?
