Currency movement during the weekend

Beginner Questions
1

Hi everyone,
i am new here, as well to Forex.

i was wondering about the opening of this week forex market
as i watched the EURNZD, EURAUD, CADJPY and many more currencies
i saw at 08/12/2012 closing price, the price was someprice,
and in the opening of the 10/12/2012 in was 30 pips~ below or above,
i was wondering why it’s happened, and what about if i am in a trade and my stoploss(or take profit order) in 15 pips from the closing before weekend price, and all of the sudden the price rally 100 pips,
will it take me out in my original stoploss, or will it take me out when market opens in sunday…

i know it’s pretty newbie question but that area seems so vague to me and i want to clear things up, hopefully it would be helpful to more people but me.

thanks.

2

Hi again,
it took me a day, but i think i’ve got my answer during my study in the “SCHOOL” option,
i saw this:
"[B]24-Hour Market

At 5:00 pm EST Sunday, trading begins as markets open in Sydney. At 7:00 pm EST the Tokyo market opens, followed by London at 3:00 am EST. And finally, New York opens at 8:00 am EST and closes at 4:00 p.m. EST. Before New York trading closes, the Sydney market is back open - it’s a 24-hour seamless market!

As a trader, this allows you to react to favorable or unfavorable news by trading immediately. If important data comes in from the United Kingdom or Japan while the U.S. futures market is closed, the next day’s opening could be a wild ride. (Overnight markets in futures currency contracts exist, but they are thinly traded, not very liquid, and are difficult for the average investor to access.)[/B] "

but it still haven’t answered my other question about my stoploss, will i be re-quoted? or it’ll take me out of the trade as i touched the stoploss line?.

3

You will get stopped at whatever the market price is when trading starts.

4

I agree with Rhody, you will get kicked out. Even with a 100 pip ralley. That is the reason why people don’t like to have open trades in the weekends.

6

Thank you both for your answers,

but what will happened between me and my broker if my account equity couldn’t handle it, I mean if i had been stopped out 100 pips above(or under) my stoploss and my margin allow me to lose only 15 pips(losing those 15 pips means my account went to o),
those 100 pips made my account -75pips which means i owe money to the broker could that be possible?, am i missing something here?

7

Read your broker’s fine print. Some limit your losses to what’s in your account.