What happens to live contracts at rollver??

[kakakidan]

Quote from Bogan7:

Mate its a lesson for you avoid trading contracts that close to expiry. I had a hedge fund client who forgot to roll his some oil futures (they didnt clear our firm) and ended up having it delivered gold as well I think. It can be very expensive when this happens.

i m new to trading , started begining of august . i usually trade ER2, but FDAX works better with my Schdule, started FDAX around 2 weeks. I didn;t realized the time diifernce of FDAX rollover as compared to (US)Eastern Time. thats where i lost everything that i made last 2 months.
anyway its a very expensive lesson learned. Hope i make it back into positive.