I have several securities in my account, including a little TVIX. Since its the biggest mover, I always see it swinging WILDLY in the after market, and I'm not just talking at 4:01 or 4:05 eastern, it seems to fluctuate for several hours after the close. However, if I try and place an order at any time after close (heck, even right at 4:00), it gives me a note that the exchange is closed or what not. How can I participate in the after-market? I swear there has been several times when I've seen TVIX go crazy after-hours, and I tell my self I'd sell my little TVIX if I could and make a killing, but I couldn't, and sure enough the next day it had dropped way back down. Thanks!
Not sure why they don't allow that by default. You're not taking on any more risk by buying or selling after hours than during regular trading hours assuming limit orders are used.
If you're planning to possibly exit the position in after-hours, yes, agree. But if you are planning to hold the position at least until next regular trading hours, then liquidity is not really a concern. If I want to buy or sell some stock or ETF at a specific price and hold it for at least a few days (swing / position trading or long term investment), I don't really care if I get filled during regular trading hours or outside of regular trading hours.