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I have another question for the board members. I continue to paper trade via TOS (because the software works on my iMac and I have yet to purchase a pc laptop). Last night, I shorted the eur/usd for 50K at 1.4414, with a trailing stop of +75 pips. The eur/usd dropped 150+ pips to 1.4255 by 6pm this afternoon and the "BP effect" went from ($700-something) to $500-something. Then around 6pm (CST), I noticed that my "average price" (entry price) had changed from last night's 1.4414 to 1.4255, and the BP effect went from the previous $500-something back down to ($800-something).
My plan was to let the short position ride until my trailing stop got triggered. Is the 6pm roll over at the "then current price" a standard practice, and if so, doesn't that defeat the purpose of letting a position ride until the stop is triggered?
thanks in advance for your thoughts.
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I've never used TOS myself but from my experience with forex brokers none of what your saying is going on makes sense to me. Did you open another posistion on something else while you still had your open posistion on the E/U. You should call them.
