Why does my EA still receive ticks when the market closes at 5PM? (ET)

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I am curious because I thought that at 5PM (ET) the market would close for pairs and no more ticks would be presented until 6PM (ET). But today while the market was "closed", my EA got some ticks and triggered some rules and end up losing because of spread :(

The trade got closed at 5:14PM (ET) on a Thursday.

Not big deal though, always trying to learn new things :)


Could it be the broker or it has always been like that and I never noticed?


*also, if I am using wrong terminology, be free to correct me. I am new to this :)

 
Daniel Whitehouse:

I am curious because I thought that at 5PM (ET) the market would close for pairs and no more ticks would be presented until 6PM (ET).
But today while the market was "closed", my EA got some ticks and triggered some rules and end up losing because of spread :(
The trade got closed at 5:14PM (ET) on a Thursday.
Not big deal though, always trying to learn new things :)
Could it be the broker or it has always been like that and I never noticed?
*also, if I am using wrong terminology, be free to correct me. I am new to this :)


Hi,

Before opening a new trade position,
It seems that your EA needs to be equipped with the following features:

  1. Maximum spread limit,
  2. Slippage limit,
  3. Last hour limit,
  4. and so on as necessary.

Regards.

 
Daniel Whitehouse: I am curious because I thought that at 5PM (ET) the market would close for pairs and no more ticks would be presented until 6PM (ET). But today while the market was "closed", my EA got some ticks and triggered some rules and end up losing because of spread :( The trade got closed at 5:14PM (ET) on a Thursday. Not big deal though, always trying to learn new things :) Could it be the broker or it has always been like that and I never noticed? *also, if I am using wrong terminology, be free to correct me. I am new to this :)

It depends on the symbol being traded, but if you are referring to Forex currency pairs, then it is 24/5. The different international exchanges overlap making it a 24 hour market, except for weekends.

 
  1. Daniel Whitehouse: I thought that at 5PM (ET) the market would close for pairs and no more ticks would be presented until 6PM (ET). But today while the market was "closed", m

    FX does not stop for an hour. Brokers stop for a couple of minutes (max) to compute swap; no ticks then.

    Foreign Exchange (FX) market opens 5 PM New York (NY)/Eastern Time (ET) Sunday and ends 5 PM NY Friday. Some brokers start after (6 PM is common) and end before (up to 15 minutes) due to low volatility.

              Checking for Market Closed - Expert Advisors and Automated Trading - MQL5 programming forum (2016)

    Swap is computed 5 PM ET. No swap if no open orders at that time.

  2. Daniel Whitehouse: some ticks and triggered some rules and end up losing because of spread :(

    Most brokers with variable spreads widen considerably at end of day (5 PM ET) ± 30 minutes.
    My GBPJPY shows average spread = 26 points, average maximum spread = 134.
    My EURCHF shows average spread = 18 points, average maximum spread = 106.
    (your broker will be similar).
              Is it reasonable to have such a huge spreads (20 PIP spreads) in EURCHF? - General - MQL5 programming forum (2022)

    You buy at the Ask and sell at the Bid. Pending Buy Stop orders become market orders when hit by the Ask.

    1. Your buy order's TP/SL (or Sell Stop's/Sell Limit's entry) are triggered when the Bid / OrderClosePrice reaches it. Using Ask±n, makes your SL shorter and your TP longer, by the spread. Don't you want the specified amount used in either direction?

    2. Your sell order's TP/SL (or Buy Stop's/Buy Limit's entry) will be triggered when the Ask / OrderClosePrice reaches it. To trigger close at a specific Bid price, add the average spread.
                MODE_SPREAD (Paul) - MQL4 programming forum - Page 3 #25

    3. The charts show Bid prices only. Turn on the Ask line to see how big the spread is (Tools → Options (control+O) → charts → Show ask line.)

      Most brokers with variable spreads widen considerably at end of day (5 PM ET) ± 30 minutes.
      My GBPJPY shows average spread = 26 points, average maximum spread = 134.
      My EURCHF shows average spread = 18 points, average maximum spread = 106.
      (your broker will be similar).
                Is it reasonable to have such a huge spreads (20 PIP spreads) in EURCHF? - General - MQL5 programming forum (2022)

 

That helps a lot, thanks everyone!

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