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Do open trades close at 5pm eastern?

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    Do open trades close at 5pm eastern?

    Is this an issue i need to bring up with my broker?

    Example i am long ZC (corn) at 11:00 am
    Long at 136.5.

    now that position is gone and filled me at 6pm Open candle. 141.75

    Can i not hold my price for longer than a day?

    I just switched to NT and Broker. New to Futures trading have always traded Forex

    Zen fire is my connection

    #2
    Federali,

    By the sound of it, you've seen a marked-to-market order modification.

    When a product closes for the day and goes to a pre-open state, the broker will carry the position forward at the settlement price (*). When the futures contact closes and moves from a 'closed' to 'pre-open' a few minutes later, the open PnL is booked and set to '0'. The new average price is then set to the price the market is trading at the open. This is technically correct and expected for all futures contracts. This is referred to as 'Marked-to-Market' and is how all futures contracts are handled.
    *: In electronic futures, the broker will use the last traded price since the settlement is actually done in the pit and the broker will have no access to that data until the end of the day. For this reason, we typically recommend that positions NOT be held over the close.
    KyleNinjaTrader Customer Service

    Comment


      #3
      nice to know that. learning experience. Well at least they deposit the PnL at market close. so i have to quickly move my stop to account for the booked Profit. Perfect.

      Comment

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