Guide to Using Pending Orders to Trade Forex on IQ Option

A good number of forex traders on IQ Option don’t understand how to use pending orders. This useful feature makes it easy for the platform to automatically open a trade position once certain conditions are met.
Even better, it will also automatically close open positions once certain conditions are met. Consider this scenario. You’re trading the EUR/USD currency pair. From your technical analysis, you predict that the price keeps falling to a support range before bouncing back up.
However, the price is still up. Now you have two options. First, you can wait until the price drops to the support zone before entering your trade. Second, you can place a pending order.
These are commands set within your trading interface that once the price reaches the support zone the platform will automatically open a buy position. Given both choices I’d take the latter. This guide will teach you how to open pending orders when trading forex on IQ Option.
Opening a pending order on IQ Option
Once you’ve logged into your IQ Option trading account, set up a 5 minutes candles forex chart. For purposes of this guide, I’ll also use Bollinger Bands. This indicator makes it easy to identify possible trend reversals (space between bands widens).



Pending orders can be opened in two ways. The first way to open a pending order is by time. That is, the Best Trading Platform will automatically enter a trade position at some time in the future.
The problem with this approach is that you can never know where the prices will be at any given time in the future. So it’s advisable to avoid this method.
The second and recommended way to open a pending order is through price. That is, the platform will automatically enter the trade position once the asset’s price reaches a specific level.
The good thing about this approach is that you can easily predict that an asset’s price will reach a certain point based on previous price movements.
Advantages of using pending orders on IQ Option
Pending orders partially automate the trading process. This leaves you with more time to analyze the charts. When trading forex, the trade entry point isn’t the current price.
It is a price that’s higher or lower than the current price. Pending orders allow you to enter position at a price point of your choosing. This removes the pressure of having to keep track of price movements which could lead to emotional trading.
Partial automation allows you to keep trades open even when you’re not physically working on your trading interface.
Example for opening a pending order on IQ Option


Let’s use the EUR/USD chart above. Notice the price point of 1.13762. During the uptrend, this price point formed a strong resistance where price consolidation occurred. Once the price broke out of this level the uptrend continued. I would expect prices to bounce off this price point during the downtrend.
So I’ll place my pending order (buy) at the 1.13762 price point. But before going into the details, let’s take a look at the steps to take. The first step involves choosing the amount to invest in this trade. Step two involves selecting the multiplier. This is simply the leverage applied on this trade.
So when trading with $10 and a leverage of X300, it’s like I’m trading with $3000. The third step involves setting the auto close parameters. This includes setting the take profit and stop loss. The +100% take profit simply means that the platform should automatically close the trade when profits are 100%.
The -95% stop loss simply means that the platform should automatically close the trade if the trade goes against me and the investment drops by 5%.
Opening the pending order
Now that I’ve decided to enter a buy position once the price drops to 1.13762, how do I do it? First, I’ll hover my cursor along the prices (left side of your trading chart) until a small black box with 1.13762 appears.
Then I’ll click once. Next, I’ll click on the “Buy” button. Once this is done, IQ Option will send a notification on my trading interface indicating the pending position has been created.




Now what happens when the pending position has been opened? IQ Option will send a notification indicating that the trade entry has been executed. If you look at the chart below, there are 3 different points.
Point 1 shows the price point where the pending order will be triggered. Point 2 shows the price the chart was reading when I entered the pending order command.
Point 3 shows the point where the take profit and auto close feature will be triggered. That is, the price must rise from the point 1 to point 3 for the take profit feature to automatically close the trade.




Changing the settings of the pending order on IQ Option
One great thing about IQ Option pending orders is that you can change their settings. You can increase the trade amount – if the trade goes your way and you want to increase profit. You can also adjust the take profit and stop loss percentage (or amount).
You can also apply the trailing stop as well as set the trade to use the available account balance (not just the amount you invested in the trade). To make these changes, simply click on the pending order. Your chart should look like the one below. Once all adjustments are made, you should click apply to save the new settings.




Note: You can also close a pending order manually. Simply click on the transactions tab on the left of your trading interface. Click on the pending orders feature and then select close for the pending orders you want to terminate.
Pending orders are a good way to open future trades on IQ Option. This feature is available for forex, stocks, CFDs and other instruments.
Now that you’ve learned how to open pending orders on IQ Option, try them out on your practice account.We’d love to hear about your results in the comments section below.

6 Reasons Why Binary Options are Popular

Financial traders have a diverse range of markets to choose from. These include forex, stocks, CFDs, indices cryptocurrencies and options. Binary options are relatively new compared to other financial instruments (except cryptocurrencies). However, many traders consider them high risk. Some will even label options trading the same as gambling.
The truth is, any form of financial trading involves risk. Money can be made or lost regardless of the type of financial instrument you’re trading.



As more traders realize this fact, they’re turning to options trading as a way to make money. Online options brokers are now attracting millions of traders from all over the globe.
But what’s making binary options so popular? Below are six reasons. (Best Trading Option)

You can make money whether the markets are trending or not
Most financial markets will only make you money when the markets are trending. For example, if you’re trading stocks, you can only make money if the price goes up or falls relative to the strike price. In addition, the price change must be significant enough for you to make a good profit.



Binary options are much different. All you need to do is predict whether the price will be higher or lower after a certain amount of time. Since options have a fixed return, a small change such as 0.001 in the direction you predicted will earn you profits of up to 90%. This comes in handy when markets are ranging. That is, the asset’s prices are experiencing small price movements.

Investing in binary options doesn’t require a huge investment
One of the reasons why options brokers are increasingly becoming popular is the low deposits they require to get started. You can easily open a binary options trading account for as little as. In addition, you can open an options position with as little as. With returns of up to 90%, a trade can make you $.90 within a short amount of time.



Assets such as stocks and cryptocurrencies bought in exchanges require a huge investment. For example, if you wished to buy Bitcoin, you would need to pay at least 00 for a single coin. In addition, you don’t know whether the Bitcoin value will increase in the near future.

Binary options offer a fixed return
Another reason why binary options are so popular is that you know the potential profit even before you open your trading position. This is calculated as a percentage of the amount you invest in a trade. Most platforms offer returns ranging from 60% to 95%.
The return depends on the assets you’re trading and volatility. This means that returns on a particular asset will change during the day. Knowing this, you can easily choose to trade during sessions where your trading platform offers the highest returns. This ensures that even if your trades end up losing, you can easily recover these losses through several winning trades.
The profit you might earn when trading other financial instruments largely depends on the asset’s price movement. If the price moves further in the direction you predicted, the higher your profit and vise versa.

The maximum you can lose is the amount placed on a trade
In addition to knowing how much you can earn through profitable options trades, you also know how much you stand to lose even before you enter a position. The maximum amount you can lose on an options trade is your trade investment. Some brokers such as IQ Option also allow you to exit trades before they expire.
If the trade was turning a profit, IQ Option will give you a portion of what you were to earn. If it was losing, a portion of your trade investment will be deducted. This is called profit after sale. For example, if you had invested in a trade with an 80% return and the trade goes your way, you might decide to exit before trade expiry.
In such a case, IQ Option could give you as profit and keep the remainder. If the trade was losing and you decide to exit, IQ Option might deduct from your initial investment. This allows you to avoid losing the whole 0 investment.



When trading financial instruments such as forex and commodities, you stand to lose more than your trade investment. If the trade goes against you, your percentage losses might exceed 100%.
At this point, your broker will use your account balance to keep the trade open. That’s why it’s always advisable to use stop losses when trading such markets.

Trading options is easy to learn
Some traders will argue that options trading is hard. But this isn’t the case. Options traders will use the same charts, tools and trading strategies used by traders in other markets. In order to succeed as a binary options trader, you must learn how to read charts, use indicators, have a trading strategy and understand trading psychology. Traders in other markets must also do the same.



The interesting thing is that. traders who have experience in other markets such as forex often find options trading quite easy.

You can earn profit in as little as 1 minute
In most markets, you’ll have to wait until the underlying asset’s price reaches a predetermined strike price. This can take seconds, minutes, days or even weeks. Binary options are designed such that you can make a profit in as little as 1 minute (Note: we don’t recommend trading short expiry times).
The reason for this is that options are set to expire after a specified period. In addition, all you need to predict is whether the price will be higher or lower than the strike price upon expiry.



That’s it about why binary options are popular. Do you have any additional reasons why we should trade options with IQ Option? Kindly share them in the comments section below.

Best of luck in your trading!