Holding Onto Positions?

[EJK80]

Hi folks. I'm new to forex trading but the only real problem I'm having is trying to retain an open position. Even when I don't set an associated order, the positions seem to close on their own while I'm logged off. My intention in buying a position is to sit on it for a while and wait. Think you folks call it speculating. To my knowledge I don't have a S/L or a T/P set up, but I could be wrong since my positions close on their own. Further, I've starte wondering if you can actually hold onto a position for the long term within the confines of the trading in Forex.com software.

Again, I'm very new, so I'm using a practice account. I won't be daytrading this, just buying and sitting, unless that's not possible. But I'm sure I'm doing something incorrect. Any advice is appreciated, I'll get to reading all of the threads put together for newbies.

 

[Rossini]

maybe you must select that you wish your trade to be rolled over to the next day? Ring Customer services and ask?

 

[Qahrahm]

Sounds like you are using spot FX, which depending on your platform will close each day (I use IGindex and they close all spot fx at 20:00).

you have 2 options, continue using the spot fx, and set it to rollover. You'll loose half of the spread each day.

Or, trade future fx, which will have a set closing date, usually options for end of each quater, spreads and prices will be slightly different.

 

[Rossini]

Sounds like you are using spot FX, which depending on your platform will close each day (I use IGindex and they close all spot fx at 20:00).

you have 2 options, continue using the spot fx, and set it to rollover. You'll loose half of the spread each day.

Or, trade future fx, which will have a set closing date, usually options for end of each quater, spreads and prices will be slightly different.

You don't loose half the spread each day, the rollover cost are really inconsequential unless you are swinging a very large size.