24/7 Stop Loss..

A

andretrader

Hi

I have traded stocks for many years, and I am know thinking about trading FOREX, I have been papir trading with great success, and will soon start with the real deal..

I was wondering about stop loss,
Forex is a 24 hour market and highly liquid, If I set a stop loss for example 2% below my entry price,

would it work if any sudden news, central bank statement of other news where the currency will jump wihtin seconds over 1 or, 2-3% ??

the stop loss would not work i stocks, because the stock will just open higher, og lower, But how about forex??


:cool:
 
u can get gapped on forex
but usually no more than 20 pips if you have a good broker

on the weekend you can get gapped HUGE though.... only broker that this wont happen with is probably oanda since they truly trade 24/7
 
Quote from Poole:

u can get gapped on forex
but usually no more than 20 pips if you have a good broker

on the weekend you can get gapped HUGE though.... only broker that this wont happen with is probably oanda since they truly trade 24/7
More...

I dont get any quotes from Oanda over the weekend and my platform is blank. How can they trade 24/7? Do you mean that they will honor stops 24/7?
 
Quote from GaryN:

I dont get any quotes from Oanda over the weekend and my platform is blank. How can they trade 24/7? Do you mean that they will honor stops 24/7?
More...

They don't "trade 24/7", but you can place a trade over the weakend. There's zero liquidity, however. Ie, no movement.

But you can open or close trades.
 
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