Trading Tools - Pending orders

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✨Pending Orders

The pending trade mechanism lets you delay trades or trade when an asset reaches a certain price. This is your order to buy (sell) an option when the parameters you specify are met. You can find the detailed information by clicking here. 

🎥Desktop Version:

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🎥App Version: 

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🤔Placing a Pending Order?

• To place a pending order, please view the right side of the screen. The field that contains the trade order controls will display ‘Order’ button. 
• Click the button to be able to place your pending order. Choose whether the trade is executed by price, time, or the asset's open.

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• Once your order has been placed, find it in the ‘Trades’ menu on the left of the chart. The order can be canceled before it is executed. 

⏳Pending order duration

A pending order is valid for 1 trading session. The maximum validity of the pending order is 7 days. You can cancel it at any time prior to its opening without losing the funds planned for this transaction.

A pending order cannot be implemented if:

• The set parameters have not been achieved within seven days;
• The specified expiration time is longer than there is until the end of the trading session;
• There are not enough funds in your account;
• If you have reached the maximum number of open trades. This number depends on your account's status. For more information, please visit https://olymptrade.com/statuses. 

🤔 Pending Orders: the rules

A pending order will be created when a trade is opened in advance. The trade will be completed once the criteria are met. 

• If you create a pending order when the asset is closed, the order will be executed at the beginning of the trading session at the opening price.
• If you create a pending order for an asset at a specific price, the order will be executed when the price is reached. There may be some slippage as the trade is executed since prices change constantly.
• If you create a pending order for an asset at a specific time, the order will be executed when the time is reached.   

What is slippage? Slippage refers to all situations in which an investor receives a different trade execution price than intended. Slippage occurs when the price changes between the time a trade order is requested and the time the order executes.

📝Instruction

A pending order can be made only for a "classic" type of option. Note that the rate of return is applicable as soon as the trade is opened. That is, your trade is executed on the basis of the actual rate of return, not on the basis of the percentage of profit when the request was created.

• Making a Pending Order Based on an Asset Price. 
• Select the asset, expiration time, and trade amount. 
• Determine the quote at which your trade is supposed to open. 
• Make a forecast UP or DOWN. 

If the price of the asset you selected goes to the specified trade direction, your order turns into a trade.

⏰ Automatic Order Cancellation

A pending order request cannot be executed if:

• The specified parameters have not been achieved before 9:00 PM UTC;
• The specified expiration time is greater than the time remaining until the end of the trading session;
• There are insufficient funds in your account;
• 20 trades were already opened when the target was reached (the number is valid for Starter user profile; for Advanced, it is 50, and for Expert - 100).

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