Hi,
I had a short order going down really well. I dragged my stop loss to the same place where I placed my sell order. I was in profit for more than $400. I ate something and came back. I saw that I got $0 and my order is either cancelled or filled at 00:02 for $0. I suspect that the spread became too high and hit my stop loss above. Is this correct? Here is the screenshot below. Also one more question are “Instant Execution” orders Good till Cancelled (GTC)? Thank you for your time.
You should be able to change the chart to show the Ask price (looks like you’re currently showing the Bid) to confirm if the price did spike. Though while ~10 pips is not impossible around this time for AUDJPY, 14 does seem a bit high to me.
I’m not sure about the GTC/Instant Execution order question sorry.
What is the timezone of your country? I suspected you trading during the dead market hours. Go double check if you trading during the dead market hours. During these time, spread gets widen because the market is not so liquid in these hours.
I am in U.S Eastern Standart Time zone. It was 5:02pm when the market time was 00:02am. I think my stop loss hit due to the high spread occured at this time and you are right. I think traded during the dead market hours.
That explains it.
Keep in mind that the spreads are widened at around 5 to 6 p.m. US Eastern Time at every broker every day of the year. By about 10x or more at times.
By the way 5 pm ET corresponds to 0:00 most brokers’ server time (a rollover).
