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Trading closing before NY session does??

  • #1
  • First Post: Dec 31, 2007 12:31pm Dec 31, 2007 12:31pm
Hi,

I have NY as closing in over 2.5 hours..and my broker has shut down all trading..saying it isnt recieving any feeds....is tyhis possible?? I have open positions and am a bit concerned of having them roll over..

again is this normal?? MBT still is reiceiving feeds albeit the volume has gone down..but the market is still open...

the rep even told me that forex had different times...

help?
Nihil inimicus quam sibi ipse Marcus Tullius Cicero
  • #2
  • Dec 31, 2007 12:33pm Dec 31, 2007 12:33pm
Hi

Most of the brokers closed 1 hr back and MBT will close at 2 pm EST i.e in 30 mins time now, so if your broker has shut down then you have no option but to wait till they open day after

Quoting coscorp
Hi,

I have NY as closing in over 2.5 hours..and my broker has shut down all trading..saying it isnt recieving any feeds....is tyhis possible?? I have open positions and am a bit concerned of having them roll over..

again is this normal?? MBT still is reiceiving feeds albeit the volume has gone down..but the market is still open...

the rep even told me that forex had different times...

help?
  • #3
  • Dec 31, 2007 1:11pm Dec 31, 2007 1:11pm
I can't believe it....there is volume out there albeit lighter and I have open positions...

@!#ò!!ç@
Nihil inimicus quam sibi ipse Marcus Tullius Cicero
  • #4
  • Dec 31, 2007 1:21pm Dec 31, 2007 1:21pm
That's why many traders don't trade during the holidays. Brokers' hours are messed up and it creates unnecessary stress.
  • #5
  • Dec 31, 2007 1:23pm Dec 31, 2007 1:23pm
remember this as a lesson and ask your broker about holiday closing times if they don't notify you. I use IBFX and they use the mail feature in Metatrader to alert us of the closing times.
  • #6
  • Dec 31, 2007 3:34pm Dec 31, 2007 3:34pm
I can't believe that dealing desks close before the interbank market does.. FX Solutions closed at noon! (I only use a demo for charting)

The interbank market and the ECNs are open til 5pm folks! And there's been a huge sell-off in the yen pairs in the past hour, GBP/JPY hit 220.87, CAD/JPY hit 111.67. Anyone on a dealing desk would never even know it.. Is there a single dealing desk open until 5pm today? (they actually deserve credit if so)
  • #7
  • Dec 31, 2007 3:56pm Dec 31, 2007 3:56pm
Both the broker and ECN I use close today @ 500pm est.
  • #8
  • Jan 1, 2008 2:40am Jan 1, 2008 2:40am
Quoting coscorp
Hi,

I have NY as closing in over 2.5 hours..and my broker has shut down all trading..saying it isnt recieving any feeds....is tyhis possible?? I have open positions and am a bit concerned of having them roll over..

again is this normal?? MBT still is reiceiving feeds albeit the volume has gone down..but the market is still open...

the rep even told me that forex had different times...

help?
When a major holiday is about to occur, check with your broker ahead of time and find out their trading schedule. This goes for all international holidays also.
  • #9
  • Jan 1, 2008 4:29am Jan 1, 2008 4:29am
Live and Learn...though an email alert would have been a nice touch IMHO...in anycase...market moved in my favour...very much so...therefore New Years' turned out better than I had hoped



now I'm curious to see whether they will honour my new positions..don't really see how they can't as they're still open..
Nihil inimicus quam sibi ipse Marcus Tullius Cicero
  • #10
  • Jan 1, 2008 10:08am Jan 1, 2008 10:08am
trading is very thin during these holiday periods. But the price movement is nearly the same but that is because the market is so thin smaller trades move the market. For the average person the market looks normal but it is not. Many banks have limited staff or completely close down.
  • #11
  • Jan 1, 2008 11:15am Jan 1, 2008 11:15am
Quoting coscorp
Live and Learn...though an email alert would have been a nice touch IMHO...in anycase...market moved in my favour...very much so...therefore New Years' turned out better than I had hoped



now I'm curious to see whether they will honour my new positions..don't really see how they can't as they're still open..
What your positions are worth will be determined at market open after the holiday, not what they are now, since your broker is closed. Hopefully it will still be profitable for you.
  • #12
  • Jan 1, 2008 11:29am Jan 1, 2008 11:29am
There is just one of the reasons I like Oanda...... if your stressed about a position you can get out of it 24/7... yes the spreads widen on weekends and holidays but access is there just in case you really need it.
Same Whore .... Different Dress
  • #13
  • Last Post: Jan 1, 2008 12:14pm Jan 1, 2008 12:14pm
My broker closed at 6:30 PM New years eve - Luckily I was out of my positions that I was worried about - But I do like the ability to trade over the weekend if it were available.
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