DislikedJonalst,
I don't believe one of the orders being filled should result in cancellation of the other order. In fact, last week, I traded the Nico 12 which is GBP/USD @ Midnight CST. The Buy ended in a stop loss for 20 pips, BUT the Sell was filled for an eventual 40 pip win! So...my understanding is if the market doesn't trigger your position trades, you wait until end of day to close out the pending trade or trades manually.
If I am wrong, please correct me...Billbss?Ignored
The best way to think of it is this- you can lose twice or win once. You keep replacing orders, until one of these things happens.
After one of these conditions occurs (1 win or 2 losses) you cancel all existing orders and you're through for the day.