If spot silver investors don't want to keep an eye on the market all the time and keep an eye on the opportunity to enter the market, they can use the method of placing orders in advance to trade. This has many advantages, especially when the market fluctuates greatly, it is difficult for investors to place orders manually at the price they expect, resulting in missing the best profit point.
Through the pending order operation, investors can fill in the appropriate price in advance, and then no matter how fast the silver price fluctuates, the order can be successfully traded to maximize profits. This method is especially suitable for ordinary office workers, because they do not have enough time to keep an eye on the market. Pending orders can save a lot of time, and they can obtain ideal profits in the spot silver market without having to keep an eye on the market all the time.
As the mainstream trading software in the market, MT4 certainly has the function of pending order operation. As shown in the figure below, investors can set the price of the pending order on the pending order page, choose to go long or short, and set the stop loss and profit stop price at the same time, and then confirm the pending order.
After filling out the pending order, when the market price reaches the set pending order price, the system will automatically help investors place an order according to the pending order information. If the investment has also set a stop loss and take profit price, when the market price reaches the stop loss and take profit price, the system will automatically help the investor close the position, so as to achieve the purpose of controlling risks and locking in profits.