Pending orders in cTrader allow you to set trades that are triggered automatically when the market reaches your specified price level. This feature is ideal for traders who want to plan entries in advance without constantly monitoring the market. Here’s how you can execute pending orders effectively in cTrader.

Steps to Execute Pending Orders in cTrader

1. Open the New Order Window

• Click on the “New Order” button in the top toolbar or press F9 to open the order panel.
• Alternatively, right-click on the chart of your chosen instrument and select “New Order.”

2. Select the Pending Order Type Under the order type dropdown, choose one of the following pending order types:

• Limit Orders:
  • Buy Limit: Sets a buy order below the current market price.
  • Sell Limit: Sets a sell order above the current market price.
• Stop Orders:
  • Buy Stop: Sets a buy order above the current market price.
  • Sell Stop: Sets a sell order below the current market price.
• Stop-Limit Orders: Combines stop and limit orders for more precise control.

3. Configure the Order Parameters

• Entry Price: Enter the price level at which you want the order to be triggered.
• Volume: Specify the position size (e.g., lots or units).
• Stop Loss: Set a stop-loss price to limit potential losses.
• Take Profit: Define a take-profit price to lock in profits.
• Expiry Time (Optional): If applicable, set a time limit for the order to remain active.

4. Place the Pending Order

• Review the order details and click “Place Order” to activate the pending order.

5. Monitor the Pending Order

• Pending orders will appear in the “Orders” tab of the cTrader platform.
• You can view details such as the type, entry price, expiry time, and current status.

6. Modify or Cancel the Pending Order (Optional)

• To modify: Right-click on the pending order in the “Orders” tab and select “Modify.” Adjust parameters such as entry price, stop loss, or take profit.
• To cancel: Right-click the order and select “Cancel” to remove it.

Visual Placement Using the Chart

• Right-click on the chart at the desired price level and choose the type of pending order (e.g., Buy Limit, Sell Stop).
• Drag and drop the order line on the chart to adjust its position.
• Edit parameters directly by clicking on the order line.

Types of Pending Orders and Their Uses

• Buy Limit: Ideal for entering a long position when you expect the price to drop to a support level before rising.
• Sell Limit: Useful for short positions when you anticipate the price will rise to a resistance level before falling.
• Buy Stop: Suitable for breakout strategies, triggering a buy when the price surpasses a specific level.
• Sell Stop: Used to catch downward momentum, selling when the price drops below a certain level.
• Stop-Limit: Provides precision by triggering a limit order only after a specified stop price is reached.

Tips for Effective Pending Orders

• Set Realistic Entry Prices: Avoid setting prices too far from current levels to ensure relevance.
• Use Stop Loss and Take Profit: Always include risk management parameters to protect your capital.
• Monitor Volatility: Be cautious of slippage during high-impact news events that could affect pending orders.
• Avoid Expired Orders: Set appropriate expiry times if you don’t want orders to remain active indefinitely.

FAQs

What is a pending order in cTrader?
A pending order is a pre-set instruction to execute a trade when the market reaches a specific price level.

How do I know if my pending order is active?
Pending orders appear in the “Orders” tab, showing their status as active until triggered, modified, or cancelled.

Can I modify a pending order after placing it?
Yes, you can adjust parameters like entry price, stop loss, or take profit in the “Orders” tab.

What happens if the market never reaches the pending order price?
The order remains active until it expires (if an expiry time is set) or you cancel it.

Can I place multiple pending orders?
Yes, you can set multiple pending orders on the same instrument or across different instruments.

What is the difference between a stop and a limit order?

• Stop Orders: Trigger a trade when the price moves beyond a specific level, aligning with momentum.
• Limit Orders: Execute a trade when the price retraces to a certain level, suitable for reversals.

How do stop-loss and take-profit work with pending orders?
Once the pending order is triggered, the stop-loss and take-profit levels come into effect to manage risk and secure profits.

Can I use pending orders during news events?
Yes, but be aware of potential slippage and wider spreads, which may impact execution.

Do pending orders affect margin immediately?
No, margin is only reserved once the pending order is triggered and becomes an active trade.

Is there a fee for placing pending orders?
There are no additional fees for pending orders, but normal trading costs like spreads and commissions apply when the order is executed.

Conclusion

Executing pending orders in cTrader is straightforward and provides flexibility for pre-planned trading strategies. By understanding the different types of pending orders and configuring them with appropriate risk management, traders can automate entries and maintain control over their trades. Unlock your full potential with our expert-led trading courses. Gain insights, learn winning strategies, and take control of your trading journey today.