24/7 Stop Loss..

Discussion in 'Forex' started by andretrader, Nov 25, 2007.

  1. 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??

  2. 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
  3. 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?
  4. could anyone recommend any good Forex broker?
    (Interbank market spreads)
  5. 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.