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What is a 'pending' order?

The trader may execute using a pending order if they expect the market to go up or down but do not wish to enter until a certain price level is reached; the order will not be filled if price does not reach this level.

A pending order is broken up into six types:

  • Buy Limit
  • Sell Limit
  • Buy Stop
  • Sell Stop
  • Buy Stop Limit
  • Sell Stop Limit

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