Can a lot sell itself at a new price? Even though i bought it at a different price?

[goldages05]

Hey guys! I have been trading the last 5 days and have made great progress. The only thing is. I just did a sell purchase at 90.77 and i left it for a while and then came back and it auto bought at 90.89 and then resold the damn lot at 90.89. I never gave the order but it has happened before. Did i miss something about this? How is it that this auto sell and buy can occur? What is causing this. and now ill probably have to sell immediately when they forex opens Sunday, to keep from anymore of a loss.

[pipso facto]

It sounds like you haven't learned how to place your orders with your broker yet. If they offer a demo account, I would advise you to use it until you get the hang of it (no more "surprises").

As for what happened here, it sounds like your stop-loss was hit. So you sold at 90.77 and your stop was hit at 90.89. I don't know how you re-entered at the same price but there must have been a pending order.

Regardless, demo trade for a while and you'll have the answers to your own questions.

Good luck!

[goldages05]

Thanks for the reply. I never set up a stop loss order. I did a buy at the market price and that was it. I came back and noticed it sold itself and re-bought at a new price of 90.91.

[pipso facto]

You might take this issue up with your broker as they would have the actual record of what happened. From you're saying, it could also be that you experienced a bit of slippage, where you placed a market order at a certain price, but that price was never hit and you got the best price instead. But again, it's hard to tell what happened without having all the info.

I don't think that your computer is entering and exiting trades on its own with no input from you. Demo trading for a while would allow you to make these mistakes without paying the price.

[goldages05]

Thanks a lot man. I really appreciate it.

[TalonD]

You don't have an EA running and making trades without realizing it do you?

[pipso facto]

You're welcome.

[rhodytrader]

Originally Posted by goldages05

I just did a sell purchase at 90.77 and i left it for a while and then came back and it auto bought at 90.89 and then resold the damn lot at 90.89.

I'm surprised no one thought to ask what time of day this happened at. It sounds to me like it was a daily rollover.

[goldages05]

rhodytrader,
This occurred at 4 o clock pm friday afternoon. Right before the market closed. I sold at 90.77 was up 20 pip profit. Then it resold at 90.89 ? Was that the cause of this? A time rollover?

[goldages05]

Central U.S Time