I have the impression, that broker do not like seeing their clients gap-trading…
That happened:
I opened yesterday night a small position DAX30 one mini-lot short, margin 10,30EUR at 22:00 hrs and let the trade open over night, trading was closed between 23:00 and 09:00 next day morning.
At 09:00 today in the morning market opened with a huge down gap and my trade was more than 50 EUR in profit.
Unfortunately i could not close the trade, each mouseclick on the “close” did nothing. But fortunately at 09:05 i could close the trade because suddenly take profit worked.
Later i asked my broker why i could not close the trade, and also tkae profit did not work after nine in the morning, and he said that there is a rule in the system, so it is not possible to enter or exit trades for this instrument 10 minutes before the end of the trading session (22:50 - 23:00) and also during the first 5 minutes after the opening (from 09:00 to 09:05)
Thats his answer:
This sounds a little bit strange, or is this normal for brokers ?
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Trading was suspended for 15 mins after the opening bell this morning, 2nd time this week, something about a level 1 circuit breaker being triggered after a 7% drop. Maybe that had something to do with it?
Thanks, but that was not the reason- this was the explanation:
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You will probably see brokers implementing rules in order to protect traders from themselves.
I use TradeStation and trade futures. Last night they advised that margins would be 50% and traders who did not use proper stop loss strategies would have their positions liquidated.
Cheers
Blackduck
not only gap trading even scalping trading approach with heeding cannot use right now in so many brokers, its really annoying
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i have seen so many regulated trading brokers dont allow scalping and hedging in their platforms including others techniques , its really a problem we have.
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Yes, it is normal, and it caught me out before. I didn’t think it was as long as you say, but ICMarkets certainly have a period at the end of the day where you can’t open or close trades for a short period
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I see, so it’s a common procedure, thanks for the answers
