Setup a pending Order

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NAGA Trader

Different types of orders allow you to be more specific about how you'd like your broker to fulfill your trades. When you place a stop or limit order, you are telling your broker that you don't want the market price (the current price at which a stock is trading), but that you want the stock price to move in a certain direction before your order is executed.
With a stop order, your trade will be executed only when the security you want to buy or sell reaches a particular price (the stop price). Once the stock has reached this price, a stop order essentially becomes a market order and is filled.

A pending order is placed to execute in the future at a particular price. There are 4 basic types of Pending Orders:

 

BUY STOP

For example, you would place a BUY Stop, if you believe that when the price rises and hits a certain price, it will continue to rise.Therefore you would place a Buy Stop ABOVE where the market is currently.

 

SELL STOP

You would place a SELL stop if you believe that after the price falls to your price, it will continue to fall. Therefore you would place a Sell Stop BELOW the current market

 

BUY LIMIT

For example, you would place a BUY Limit, if you believe that when the price falls to a certain level, it will change direction and start to rise. Therefore you would place a Buy Limit BELOW where the market is currently.

 

SELL LIMIT

You would place a SELL limit if you believe that after the price rises and hits your price, it will then start to fall. Therefore, you would place a Sell Limit ABOVE the current market price.

 


 

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