FOREX
Q1. The Forex market trades round-the-clock. What do you base your daily “close” on?
A1. We base our “close” on the prices of 5:00pm US EST
Q2. What do you base your “open” on?
A2. We base the following day’s “open” on the price of the first trade that occurs after 5:00pm US EST.
Q3. What time of the day are your charts updated?
A3. The charts update around the following times:
US EST Aust EST Aust Daylight Saving
6:15pm 8:15am 10:15am
Q4. Why does it take over an hour from the close to the time the charts update?
A4. During that time, we acquire our data from our data suppliers and then our programmers run several computer routines to create our red and green lines. This information is then uploaded to our servers and is then ready for you to download to your computer.
Q5. How do you trade it as the prices would more than likely have moved?
A5. Yes, the prices probably have moved. Sometimes you might get a better price than the “open” and sometimes you might get a worse price.
Q6. When I am paper trading, do I enter at the close or the open price?
A6. We always enter and exit our trades at the “open” so we use the open price.
Q7. When I am paper trading, do I exit at the close or the open price?
A7. We always enter and exit our trades at the “open” so we use the open price.
Q8. When I update my paper trading spreadsheet each day, which price do I use?
A8. You use the “open” to open a trade and then use the “close” each day to calculate your running profit/loss.
COMMODITIES
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OPTIONS
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