i oppened a long possition at 1.3656 for euro100.000 AT 14/11/2011. I maintained that possition and kept funding my account because of the UNREALISED loss i was making, and at 30/12/2011, THAT IS 46 DAYS AFTER I BOUGHT, i decided to hegde, by oppening a sell possition of same amount. The next working day i found out that they have closed my possition with realised loss of euro5743,. At the time of the closing of the transaction i had in my account another euro5000,.
When i asked them why they closed my two possitions the answer was that their system closed the possitions by default and i ought to know their general business terms that say that if you open two opposite possitions then saxo bank will close the possitions UNLESS YOU associate one of the two possitions with another order like take profit or stop loss in order for their SYSTEM not to associate the 2 possitions. I wonder if i had read their terms was it possible for me to remember that?
FURTHERMORE, WHAT IS THIS? THIS IS WHAT HEDGING MEANS!!!! AM ASKING EVERYBODY. HEDGING IS TO OPEN A SELL AND A BUY POSSITION WITH SAME AMOUNT BUT YOU HAVE TO DO ONE MORE CLICK AND THAT IS TO ASSOCIATE ONE OF THE 2 POSSITIONS WITH A STOP LOSS OR TAKE PROFIT? THE ANSWER IS YOURS AND ALL OF YOU THAT TRADE EVERY DAY AND DO HEDGING. By the way in order to close an open possition you click specific closing box. SO MY INTENTIONS WERE CLEARED FOR ME. I WANTED TO HEDGE.
When i asked them why they closed my two possitions the answer was that their system closed the possitions by default and i ought to know their general business terms that say that if you open two opposite possitions then saxo bank will close the possitions UNLESS YOU associate one of the two possitions with another order like take profit or stop loss in order for their SYSTEM not to associate the 2 possitions. I wonder if i had read their terms was it possible for me to remember that?
FURTHERMORE, WHAT IS THIS? THIS IS WHAT HEDGING MEANS!!!! AM ASKING EVERYBODY. HEDGING IS TO OPEN A SELL AND A BUY POSSITION WITH SAME AMOUNT BUT YOU HAVE TO DO ONE MORE CLICK AND THAT IS TO ASSOCIATE ONE OF THE 2 POSSITIONS WITH A STOP LOSS OR TAKE PROFIT? THE ANSWER IS YOURS AND ALL OF YOU THAT TRADE EVERY DAY AND DO HEDGING. By the way in order to close an open possition you click specific closing box. SO MY INTENTIONS WERE CLEARED FOR ME. I WANTED TO HEDGE.