99% traders do not know how to create a pending order because they are not fully aware of all the function of Olymp Trade.
Using pending order is one of the most useful methods that help you make the most of price and spend less time. As well as get less pressured due to emotion. In this article, we will help you open a pending order in Olymp Trade
Pending order or pending trade is?
The pending order or pending trade mechanism enables you to delay trades or trade when an asset reaches a certain price. This is your order to UP/DOWN an Fixed Time Trade when parameters you specify are met.
Why you need pending orders in Olymp Trade
This is the best way that help you make order fast when price fluctuating.
You can set up many pending orders in advance at various of times or prices without paying too much attention to the chart. Therefore, you can avoid losing control of emotion when trading in Olymp Trade.
If the pending order is suitable for your Olymp Trade strategy, you can save a lot of time for waiting for trading chance and avoid the situation that you cannot placing order in time and lose the chance of earning money at Olymp Trade
How to open a pending order in Olymp Trade
In the homepage of Olymp Trade, you choose tab Order. Click New order
A trade opening board will be opened. There are 2 ways to make a pending trade:
(i) Opening pending order by asset price means that you have to set-up the target price in advance, when the price in reality goes up or down to reach the target that you have set, your order will be activated.
(ii) Opening pending order by time means you set up everything for the trade and your order will be activated at your set-up time. We have not use this type of order yet
Guide to create a pending order in Olymp Trade
This is EUR/USD trading chart. At the moment, you can quickly determine where the support zone of this currency is. Price at this zone is about 1.4877. Now you can make a pending order for UP. Reason: This is the support zone
You can choose your pending order below this to keep the order safe. If the price falls to the support, your Fixed Time Trade for UP will be activated.
How to create pending order in that situation
Make a new order
If you trade by assets price, in the tab level, you fill the suitable number. For example. At Level, you fill 1.14877. Return can be filled with the current payout ratio 70%. Time frame for the trade is 1 minutes. The amount of money is 3$. After that you choose tab UP. The pending order has been created.
Now you have a pending order at good price. When price does not drop down to this zone, your order will never be activated. This is a good advantage that helps you make the most of every chance of earning profit. Just set up a lot of pending orders and wait for profit to come
Notes when open pending order at Olymp Trade
Depending on the Olymp Trade strategy, you can open suitable pending orders. If you have a strategy that was proved that it can help you earn high rate of profit. You can put a lot of pending trades in advance and wait for price to move to the profitable zone.
When you finish your trading of the day, remember to cancel all the pendings orders that are yet to be activated or they will be activated without your awareness.
This is a good tool to open order in time because price sometimes reaches a little into support/resistance zone, your clicking speed is sometimes not as fast as price fluctuation. There’s only pending orders that helps you trade Fixed Time Trade quickly. Therefore, once you can estimate the movement of price you should take advantage of pending order at Olymp Trade
The reason for this article
When you do not have time to concentrate on trading, you should use this type of order so that you can take the initiative.
You should test the pending orders before practice with Olymp Trade Demo account.
Wish you success!