I put in two positions last Friday and let them run till the close of market. Now I can't close them, is that b/c of weekend close? I thought you would still be able to close orders?
Argue for your limitations, and sure enough, they're yours. Richard Bach
I put in two positions last Friday and let them run till the close of market. Now I can't close them, is that b/c of weekend close? I thought you would still be able to close orders?
Ignored
Unfortunately no. Once the market is closed, you can't do anything with your trades at all until it opens again.
Every trader have to understand that in forex all transactions are final.
You summit and order and if get acceptd that is the end of it.
We talk about "open positions" and to "close positions" and we understand what it means but it is not technically correct. It would be more correct to say.. we have open debt or unpaid debt. (to the broker).
If you buy euros and pay with usd that transactions is complete and final.
You own euros, have a debt with your broker in dollars for the equivalent at the purchased price.
Every thing you do after that are "new" orders.. all stops are new orders.
This is very important to keep in mind when using the credit or the levarage the Brokers grants you. A lot of things can happens during the weekend or any other time. If the whole financial systems shuts down for any reason and they do not take orders for a while, you could be very rich or broke when new order are received and accepted egain .
I like to get most trades completed before the Friday close, as the market sometimes opens with fluctuations that can suck the profit out of short term trades.
Well exactly, I put the end time in for Friday 1700 pm EST but since they were still open AND b/c I was making profit I was afraid I was going to loose that at Sunday afternoon opening.
Argue for your limitations, and sure enough, they're yours. Richard Bach
