Terms like buy stop and buy limit, sell stop and sell limit, look confusing when you want to place a pending order.

Sometimes you wonder why MetaTrader 4 or MT4 platform doesn’t accept your pending order requests when you choose one of these terms.

Download our eBook for FREE now:

First, please let me explain what buy stop, buy limit, sell stop and sell limit mean and what is the difference between these options.

Then I will explain how to choose these options on MT4, and how this platform can easily prevent you from any confusion.

What Is the Difference of Buy Stop and Buy Limit?

“Buy Stop” is a buy pending order above the market price.

For example, the EUR/USD current price is 1.0495.

And, you want to buy EUR/USD if the price goes higher and reaches 1.0515.

Therefore, you have to set a buy stop order at 1.0515.

If you place a buy pending order below the market price, that order is known as “Buy Limit”.

For example, EUR/USD current price is 1.0495.

And, you want to buy EUR/USD if the price goes lower and reaches 1.0480.

Therefore, you have to set a buy limit order at 1.0480.

– How to Set a Buy Stop and Buy Limit Order

You can press F9 and the order window will open. Then…

  1. In the “Type” field, change “Instant Execution” to “Pending Order”.
  2. In the second “Type” field which is placed below the first one, choose the type of pending order.
    If you want to buy when the price goes higher and reaches a higher level than where it currently is, then you have to choose “Buy Stop”.
    If you want to buy when the price goes lower and reaches a lower level than where it currently is, then you have to choose “Buy Limit”.
  3. You can choose the other parameters like volume (number of the lot size you want to take), stop loss and target orders.
    If you don’t set the stop loss and target levels, you can set them later after placing the pending order.
    But you will not be able to modify the volume.
    If you want to do it, you will have to delete the pending order and set a new one with the volume you want.
  4. Enter the pending order price in the “at price” field.
  5. You can click on the “Place” button when you are done, and so, the pending order will be placed.

Buy Stop MT4
Buy Limit MT4

– Invalid S/L or T/P

If you choose to place a “Buy Stop” order, but in the “at price” field you enter a price which is lower than the market current price, you will receive “Invalid S/L or T/P” error when you click on the “Place” button.

This error that is received because of choosing the wrong order type, has nothing to do with stop loss and target.

You will receive this error even when you set no stop loss and target.

When you see this error, you should know that you have made a mistake either in choosing the order type, or in entering the correct order price.

Note: If you like to become a professional trader through learning the best and most accurate technical and fundamental analysis techniques, submit your email here:

What Is the Difference of Sell Stop and Sell Limit?

Sell Limit is a sell pending order that you place above the market price.

For example, the EUR/USD current price is 1.0495.

And, you want to sell EUR/USD if the price goes higher and reaches 1.0515.

Therefore, you have to set a sell limit order at 1.0515.

If you place a sell pending order below the market price, that order is known as “Sell Stop”.

For example, EUR/USD’s current price is 1.0495.

And, you want to sell EUR/USD if the price goes lower and reaches 1.0480.

Therefore, you have to set a sell stop order at 1.0480.

– How to Set a Sell Stop and Sell Limit Order

It is the same as setting buy stop and buy limit.

You press F9 and… , exactly like the stages that were explained above.

The only difference is that you have to choose a Sell Limit order type if you want to sell when the price reaches a higher level.

Similarly, you have to choose a Sell Stop order type if you want to sell when the price reaches a lower level.

There is another difference which is the pending order price.

In case of Sell Limit, the price you enter has to be higher than the current market price.

In case of Sell Stop, the price has to be lower than the current market price.

If you enter the price wrongly, you will receive “Invalid S/L or T/P” error.

Sell Limit MT4
Sell Stop MT4

An Easier Solution

It is hard and confusing to remember the difference of limit and stop orders.

Sometimes you get the “Invalid S/L or T/P” error several times, before you figure out how to set the orders on the order window.

However, there is a much easier way to set the buy and sell stop and limit orders on MT4, without having to figure out which one to choose.

This is what you have to do:

On the price chart, right click where you want to place the order.

You can right click above the market current price, if you want to enter the market when the price goes higher.

You can right click below the market current price, if you want to enter the market when the price goes lower.

A menu will open after your right click.

Hover your mouse pointer on “Trading”, which is the second item on the menu.

A smaller menu will open:

If you right-clicked above the market price, then the smaller menu will have “Sell Limit” at the top and “Buy Stop” below it.

If you right-clicked below the market current price, then the smaller menu will have “Buy Limit” at the top and “Sell Stop” below it.

Note: If you like to become a professional trader through learning the best and most accurate technical and fundamental analysis techniques, submit your email here:

What Does It Mean?

If you want to enter the market when the price goes higher than where it is now, then you have to right click above the market current price on the chart.

Then, if you want to buy when the price reaches there, you have to click on “Buy Stop”.

If you want to sell when the price gets there, you have to click on “Sell Limit”.
pending order above the market price

Similarly, if you want to enter the market when the price goes lower than where it is now, then you have to right click below the market current price on the chart.

Then, if you want to buy when the price reaches there, you have to click on “Buy Limit”.

If you want to sell when the price gets there, you have to click on “Sell Stop”.
pending order below the market price

You will not have to enter the pending order price if you follow this method (right-clicking on the price chart).

Once you click, MT4 will place a pending order and a red dashed line will appear on the chart.

The pending order price will be the level you right-clicked on the chart.

However, you can drag the line to a higher or lower level to modify the pending order level.

You can also refer to the MetaTrader terminal (press Ctrl+T).

Then right click on the pending order record on the “Trade” tab.

Then click on “Modify or Delete Order”.

You will be able to modify the pending order level then.

You can also enter the stop loss and target levels.

The only thing you cannot modify after placing a pending order is the volume.

If you want a different volume, then you have to delete the pending order.

After that, you can place another pending order with the desired volume.