Daily Strategies and Market Closure

Hi

 

Until recently, I had never generated any daily strategies, but for the past few weeks I have concentrated on daily strategies, which I have now put live with Alpari (but the same also happens on Pepperstone)

It seems that for a few minutes at the end of the trading day, brokers close the market as I get an error saying the market is closed when my daily strategies try and place new orders.

 

I assume there is no way around this? One way around it, is to restart your MT4 instance when you know the market is definitely open, but that is not ideal.

 

Does anyone use a broker where this is not a problem and they are able to run daily strategies without any problems with market closures?

 

Thanks

Leon

Opening trades at the instant of the new trading day is never a good idea.  There is pretty much no liquidity.

 

https://pepperstone.com/en/support/about-trading/trading-hours

 

 

Most FX pair trading hours are 24 hours per day during the week, with a five minute break from 00:00 server time until 00:05 server time; on Friday MT4 trading ceases five minutes early at 23:55 server time, rather than 24:00, to prevent wide spreads as liquidity providers go offline at the end of the week. Trading hours are subject to change due to seasonal and market factors.

 

Spreads around midnight on the broker (New York close time) get very large and placing large trades would be likely a problem.

 

I don’t really have a solution.  It’s one reason why I have never bothered using SQ with daily timeframes, since it only considers indicator values once per day and at midnight, which for a broker aligned to New York, means the issue you face above. 

Yeah, completely agree on the spread/liquidity and I would never look to enter trades at that time, but I would ideally like the EAs to at least be able to open pending orders……I might just update the EA’s I have generated, to check whether it is 5 minutes past the end of the day and then place the orders.

Thanks for the reply.