Understanding the rules for holding and trading over weekends and overnight is crucial for maximizing your strategy. Below is a consolidated overview of policies for One Step, Day Trading, and Swing Trading accounts, including key deadlines, add-on requirements, and definitions.
1. Day Trading and One Step Accounts
Overnight Positions: Not Permitted
Weekend Holding :
- All positions must be closed by Friday at 5:00 PM EST as this is a Day Trading Account.
- Please be aware, if you hold a trade during the roll over period on market close (5:00 - 6:00 PM EST) Your account will be breached.
- With the Trade on Weekends (+10%) add-on, positions can placed and held over the weekend after 6:00 PM EST on Friday.
Weekend Trading Restrictions:
- Opening or closing trades between Sunday market open and Monday 00:00 EST (GMT-5) is classified as weekend trading, requiring the add-on.
- Example: A trade opened at 12:00 AM Sunday is still considered weekend trading and violates the rule.
2. Swing Trading (2-Step Swing) Accounts
Overnight & Weekend Holding:
- Positions can be held overnight and over weekends without an add-on, ideal for longer-term strategies.
Weekend Trading Restrictions- :
- Trading (opening/closing positions) during the weekend requires the Weekend Trading Add-On.
- The weekend period ends on Monday at 00:00 EST.
3. General Rules and Notes
Market Closure Deadlines:
- For Day Trading and One Step accounts, all trades not using the add-on will be automatically closed by Friday at 5:00 PM EST.
Weekend Definition:
- The weekend spans from Friday 5:00 PM EST to Monday 00:00 EST.
- Important: Activity between Sunday market open and Monday 00:00 EST is still classified as weekend trading.
- Add-On Details:
- Weekend Trading Add-On (+10% fee): Required for Day Trading, One Step, and 2-Step Day Trading accounts to hold or trade over weekends.
- Swing Trading accounts only need the add-on to trade (not hold) during weekends.
- Swap Fees: Apply nightly to open positions in One Step and Day Trading accounts.
Key Reminders
1. Sunday 12:00 AM Trades: Classified as weekend activity; execution occurs on Monday.
2. Plan Ahead: Ensure positions are adjusted before Friday 5:00 PM EST if not using the add-on.
3. Swing Account Flexibility: While holding is unrestricted, trading during weekends still requires the add-on.
By aligning your strategy with these guidelines, you can avoid unintended closures or fees and leverage market opportunities effectively.