Entry Orders are executed the moment the market price reaches your specified price and opens a new position. The price can be above or below the current trading price.
There are four types of Entry Orders:
1. Entry-Limit-Buy: wait until the price goes lower than the current price (used in buying).
2. Entry-Stop-Buy: wait until the price goes higher than the current price (used in buying).
3. Entry-Limit-Sell (going short): wait until the price goes higher than the current price (used in selling).
4. Entry-Stop-Sell (going short): wait until the price goes lower than the current price (used in selling).
For example, if you want to buy Google shares, but not until the price drops to $450, you would place an Entry-limit Buy Order at $450. If the price never drops to that level, then the order will remain unexecuted, but it will remain a pending order until you cancel it.
To create a new Entry Order with Plus500 simply:
-> Go to the main trading lobby
-> Click on 'Buy' or 'Sell'
-> Click on 'Advanced'
-> Complete the relevant entry order
-> Click on 'Buy'
Source : Plus500.com
