Happy Memorial Day, everyone. I’m currently demo trading using the Oanda FXTrade platform. I’m wondering if I open a trade late in the evening, maybe around 10 pm, can I set a time stop to have the trade close at, say, 2 in the morning even if my stop loss or take profit hasn’t been hit? I’m looking at the tutorial and not seeing that option, but I may be missing something.
Hi, if this is pending order (buy stop or sell stop) you can set expiry date in MT4. Regards Greg
No, it would likely be a market order. But if I’m placing it and then going to bed I don’t want to let it run too long. And while I plan to familiarize myself with MT4, right now I’m kinda comfortable with FXtrade.
Hi, ok, so you can use Expert Advisor to close all orders at specific time. Regards Greg
Well, look, if you work for a demo, you can try anything and just watch, I generally think that traders have every opportunity to review and understand everything, without risking capital…
Okaaaay, true. Has nothing to do with the question I asked, but true…
Ooh a time-based trade regardless of P&L?
Yeah, that’s it. Let’s say I’m looking at pairs late at night. I see a good entry, so I open a position and set my stop and profit levels. But I know even if it’s a valid signal the market could reverse if the trade stays open too long. So I was wondering if I could set an open trade to close by a certain time regardless of profit or loss. Once again, I’m using Oanda FXTrade platform.
sometimes, exit after time regardless of profit and loss is a good solution
Sell or buy stop can be set up if it’s a pending order.
I think this will fulfill your need. You need to insert an EA code to achieve your requirement.