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Question- Oanda closed - weekend trading ?

  • Post #1
  • Quote
  • First Post: Nov 19, 2004 5:47pm Nov 19, 2004 5:47pm
Hi Guys,

I'm relatively new to this, so this might be a silly question. I've subscribed on a oande demo account and according to their website the tradinghours are 24/7.

However, currently when I log in (friday 23h CET), it says closed. This is for al currency pairs. Is there some (macro-economic) reason for that ? Is this because their is nobody trading over the weekend ?

But I can still get a buy or sell order in. But what sense does it have to do that since the market does not change ?

In short, can anyone please explain me this and how should I react ? close all my trades on friday ?

For the traders with more expirience I aplogise for this, most probable, trivial question.
its more like 24/5.
Relax and be happy.
Quoting Rollo
Hi Guys,

I'm relatively new to this, so this might be a silly question. I've subscribed on a oande demo account and according to their website the tradinghours are 24/7.

However, currently when I log in (friday 23h CET), it says closed. This is for al currency pairs. Is there some (macro-economic) reason for that ? Is this because their is nobody trading over the weekend ?

But I can still get a buy or sell order in. But what sense does it have to do that since the market does not change ?

In short, can anyone please explain me this and how should I react ? close all my trades on friday ?

For the traders with more expirience I aplogise for this, most probable, trivial question.
I don't use Oanda but I've heard you can place trades 24/7. If that is so and you can open and close orders over the weekend there is an advantage but it will not be a commonly used one. If there is any catastrophic event over the weekend or a G7 meeting or major news that is highly likely to move the currency down or up ... you can close positions before the blood bath if you have open trades. Also you can open positions ahead of most others if you are convinced the market is heading in a specific direction. Also chances are you'll see prices moving over the weekend if that is the case.

FT
We all need some rest on weekend.Take your girlfriend out to a dinner, go to see a good movie ,have some fun.
Trade to live , NOT live to trade. life is short, enjoy it.
Quoting fijitrader
I don't use Oanda but I've heard you can place trades 24/7.
can anyone confirm this?
Relax and be happy.
Quoting merlin
can anyone confirm this?
Yes, you can place trades anytime but the spread is increased substantially on the weekends.
nice! i guess i know where to hedge if i get caught in a weekend trade.
Relax and be happy.
each friday night they close the servers for a while. this is for maintenance
yes as many already said here it closes on Friday at 4 PM est and reopens sunday 2 pm EST Its nice to take a break for the weekend to calm the nervs hehe
There are those who know, and there are those who don't know.
  • Post #10
  • Quote
  • Edited 12:43pm Sep 16, 2007 12:27pm | Edited 12:43pm
Quoting palabara
yes as many already said here it closes on Friday at 4 PM est and reopens sunday 2 pm EST Its nice to take a break for the weekend to calm the nervs hehe
I'm having a problem understanding how to ignore weekend data using Oanda.

I'm in CA and when I set the weekend begins at 1:00 pm Fri and ends Sun at 1:00 the last bar that is visible on the daily chart is the Thurs bar with a close at 21:00 hours.

What am I missing?

Any help would be greatly appreciated.

Thanks in advance
Quoting longfellaz
I'm having a problem understanding how to ignore weekend data using Oanda.

I'm in CA and when I set the weekend begins at 1:00 pm Fri and ends Sun at 1:00 the last bar that is visible on the daily chart is the Thurs bar with a close at 21:00 hours.

What am I missing?

Any help would be greatly appreciated.

Thanks in advance
There is nothing to understand. Market is closed on WE. Period.

If a broker authorizes to take position on WE they are doing it purely internaly and totaly disconnected from any real market price.
Thanks for your reply but I was referring to the proper time settings on the oanda platform for the time zone I'm in.

Quoting longfellaz
Thanks for your reply but I was referring to the proper time settings on the oanda platform for the time zone I'm in.

Goto user preferances and check these boxes, also the timezones I have showing give you just a little of the weekend dead zone.... as to trading ... you can enter or exit positions at Oanda 24/7 ... just that thre is a 10 or more pip spread during the weekends.
I am in Oregon so w are both on PDT...

http://img513.imageshack.us/img513/2...enshot1ar7.png
Same Whore .... Different Dress
Thanks!
  • Post #15
  • Quote
  • Last Post: Sep 16, 2007 4:17pm Sep 16, 2007 4:17pm
No problem...happy trading.
Same Whore .... Different Dress
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