Market Close Protection
Automatically close all positions before market close to prevent prop firm violations.
Why this matters: Most prop firms require all positions to be closed before market close (typically 4:00 PM ET). Forgetting to close even once can result in account termination.
What It Does
Market Close Protection automatically flattens all open positions at a time you specify. This ensures you never accidentally hold positions past the deadline, even if you step away from your computer or forget.
When the configured time arrives, TradingPlace will:
- Close all open positions at market price
- Cancel all pending orders (stops, limits, brackets)
- Log the action for your records
Configuring Close Time
Set your auto-close time in the account or organization settings:
- Go to your Dashboard
- Open Account Settings or Organization Settings
- Find "Market Close Time"
- Set to 5 minutes before your prop firm deadline (e.g., 3:55 PM ET if deadline is 4:00 PM)
Recommended: Set your close time 5 minutes before the actual deadline. This gives buffer time for execution and prevents edge cases where a position closes exactly at the deadline.
Common Close Times
| Prop Firm | Deadline | Recommended Setting |
|---|---|---|
| Apex / TopStep | 4:00 PM ET | 3:55 PM ET |
| TakeProfitTrader | 4:00 PM ET | 3:55 PM ET |
| Earn2Trade | 4:59 PM ET | 4:54 PM ET |
Why Manual Closing Fails
Traders lose accounts to market close violations because:
- Distraction - You get a phone call, someone knocks on the door, or you step away
- Clock confusion - You thought you had more time, or confused time zones
- Trade management - You were focused on managing a position and lost track of time
- Internet issues - Your connection drops right before close
Automation eliminates human error. Set it once and never worry about market close violations again.
What Happens at Close Time
At your configured time, TradingPlace executes the following sequence:
- Sends market orders to close all open positions
- Cancels all working orders (stops, limits, brackets)
- Confirms all positions are flat
- Displays notification in your dashboard