A Stop Order is a type of Pending Order set in the profitable direction of an order; it allows a trader to test if the trend of the market is profitable.

There are many types of Stop Orders:

• Buy Stop: to buy at a price higher than the current ask price.
• Sell Stop: to sell at a price lower than the current bid price.
• Stop Loss: to close a falling trading position at a set price.

How to place a Stop Order

1. Log into MT4/MT5.
2. Open a new order by double-clicking your chosen instrument.
3. Change Order Type to Pending Order.
4. Then select Buy Stop or Sell Stop from the revealed area under Type.
5. Set the requested price, ensuring it stays within valid parameters in case of an invalid SL/TP message then click Set.
6. A message will confirm that your Stop Order is now set.
7. Next, double-click the order located in the Trade tab, to open up the order’s settings, and set the Stop Loss price then click Modify to confirm.
8. Congratulations, you’ve set up your order with a Stop Order, including Stop Loss.

If you ever want to edit your Stop Orders, including Stop Loss, simply double-click the order in the Trade tab to open up customisation options.

Note that if you choose an expiry date that falls during a weekend, your order will expire before the market closes at the end of the current week.