1. Price Control:
The first advantage of entry orders is the price level control they provide. Traders can specify the price level at which they want the trade to execute. The ability to designate a level facilitates trading without the need to constantly monitor the market.

The image below depicts an example of a deal ticket that highlights the price field where a trader can set his or her price execution level. Most platforms should have a similar process and layout.
2. Entry Orders Save Time :
Forex entry orders can save you a lot of time. Setting one eliminates the need for traders to be at a computer when a trend line is crossed or price breaks out of its price channel. Traders can easily add an entry order to get into the trade if the price behaves as expected. The order does the waiting, allowing traders to concentrate on other matters.
3. Better Money Management:
Forex entry orders also aid in cost-cutting. Consider how much time traders devote to trading each day to gain a better understanding of this. 12 hours? What, six hours? An hour? Ten minutes? Most likely, it will be near the lower end of the spectrum, between 10 minutes and an hour. This is because most people have a day job, a family, or other responsibilities.
4. Accountability:
Forex entry orders (with stops and limits) also help traders stay accountable. This is because they eliminate the possibility of emotions interfering with reliable, profitable trades and ensure traders are adhering to the latter.
5. Support Trading on a Time Frame:
Trading on a custom time frame allows for more specific trades that may be in line with upcoming market news, political events, or company results, depending on the market. Traders can specify the expiry period for the entry order, as shown in the image below:

"Good until canceled" - The entry order will remain active until the trader manually cancels it.
"Good until date" - The entry order will be active until a certain date.