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??
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
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?
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.