Why use pending orders
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Most times it is not easy to sit in front of the charts all day to check on our trades. I may want to buy a pair at an ask price of 1.3114 but now current market prices are trading at 1.3111, is it compulsory I wait till the market prices get to the value I so desired? Of course not, it is not necessary I sit and wait, I could just get to put in pending orders for that price, so that once prices touch that value the pending order becomes a market order and it is filled by my broker. This is a very big advantage as I get to trade and do other things at the same time, I can multitask.This is one thing I love about pending orders.