Hey, so this one is a question I get asked a lot - a real lot, and so I thought
I'd make a video separately about that. I've actually talked about this in other
videos that I made, but maybe it gets lost in the other information. So, this is about
what happens when you have someone you're copying - they're in your portfolio...
If I go to my portfolio, here's the people I'm copying at the moment. So, let's say you want
to close one of those copies - you go, and you click here 'Stop copying', and what
happens - it doesn't actually close, it says 'Pending Close' over here - pending
close... And you think "Alright, pending close..." So you leave it a while - maybe
it's going to take a few minutes, maybe it's going to take a couple of hours, maybe it's
going to take a day... And you'll come back, maybe a day later, or even two days later
- can happen, or three - unusual, but it can happen, and it still says 'Pending Close'.
Now, people start to panic, and at that point they think "Oh my God". I remember
when it first happened to me, I thought, you know - I just had no idea what was
going on there... I thought "What's this about? What Pending Close?" And then I
kind of worked it out. So, it's fairly simple - it's not really something to
hugely worry about. There may be other reasons why this would happen - I have yet
to see one... This, what I'm going to tell you, is the only reason I have seen so far
why 'Pending close' can stay there. So, when you copy someone - obviously, if I go
into MrThor here, he's trading - all these trades here, are the ones that he's
made - that I've made, via him, all right. So, he's bought these things, or sold these
things - he's trading these things, and I'm trading them as well. So, if I want to go
to his actual profile - HIS profile, I go to MrThor, and I go to his portfolio.
This is what he's - all the things Mr Thor's trading. But, in my portfolio view, if
I click on him here, it shows all the things I've copied through him. There may
be some slight differences, because maybe some of the trades, you know - they were
too small - under $1, and I couldn't open them. There might be a discrepancy, but
here, these are actual - my trades, these are now live trades
which I've done via him, okay. So Ripple and Ethereum - both cryptos... DASH....
AMD is a New York Tech exchange stock, alright, so it's an equity - a stock which
is sold on the New York Stock Exchange. I think Momo is as well. British Airways is
traded somewhere in the states - these are... No it's not
BA - what am I talking about... BA is Boeing, it's not British Airways, it's Boeing 'BA' - I don't know why
it's showing Bitcoin there. BA is Boeing... should have been British Airways
but there we, it's Boeing - that's also an American stock. Every stock that someone
has, when you copy them - you're look in their thing - all of these stocks
they're all traded on a specific exchange, ok. Cryptos are traded in a lot
of places, hence they're 24 hours a day, 7 days a week - they're the
only thing on here which i think is... The other ones all have their own specific
home, okay. Well, the commodities do as well - they're traded around the world, so...
But, Apple has its own home, CVS has its own home - they all have their own native
exchange, okay. Now, most of what he's trading here are American - they're U.S.
stocks - they'll be on the New York Stock Exchange or whatever. Sometimes though
one of the stocks in the portfolio, or that you're copying via someone - the
exchange for it isn't open at the time that you close the copy, okay. So, whenever
you close a copy, what this does, is it tries to close the positions on all of
your trades, alright. So, if I close the copy on MrThor right now - which I'm not going to do
because he's doing well, all of these will have to close. So it will close Ripple, it
will close my Ethereum - it can do that at the moment, it can close my AMD because
the American Stock Exchange is open. It can probably close MU, Momo...
All of these - I think the exchanges which they're traded on, are open at the moment
you know. Much in the same way, if you go and buy Tesla - if you're in London, and
you try and buy Tesla at 9:00 in the morning, you can't buy Tesla, because the
exchange that it's traded on - the American exchanges aren't open yet, so it will turn
it into an order, and at 3:30, or 2:30 it would be in England... Whatever, when the
exchange opens, then your order will be executed, and you'll suddenly have Tesla.
You can only buy something when it's actually open, all right - otherwise it
turns it into an order automatically... When the exchange is open - it has to be. Same
with selling - you can only sell something, when the exchange it's traded on is open.
So, basically, if it's 'Pending close', have a look through all of the things that
you've traded via that copy, and just look for any ones where you're not sure where
they're traded, okay. this very often happens on the weekend. So,
people - on late Friday night, think 'Alright, I'm going to close this copy..." They
close it, late Friday night, you know - the London exchanges are open
the European exchange - the London exchanges are closed, sorry, the European
exchanges are closed, American exchanges are closed - and they're closed, all weekend.
The exchanges aren't open 24 hours a day, 7 days a week - they work 5 days a
week, and it's quite limited hours, I don't know if it's seven or eight hours a day... I used to
think the exchanges were always open - you can always buy or sell. No, they're
open for a specific time in the - during the day, and for specific days during the
week... Usually Monday to Friday. So, have a look through... So, people normally - they'll
do that on Friday, so Friday night they're closed, Saturday they're all
closed - they're out, you know, in the Hamptons, or in the Bahamas, or whatever
they do - they're making a lot of money, they're on holiday on the weekend, or at
home asleep because they work a lot... Still pending - people start to get really
freaked out... Saturday it's still pending - why is it still 'pending' - because the
markets - the exchanges are closed. Sunday - still pending because the exchanges are still
closed. It's Sunday... So, they have to wait usually till Monday, when the markets
reopen - so that'll be earlier in the morning if it's the London or European
exchanges, and it'll be the afternoon on Monday, if you're in Europe, it'll be the
afternoon on Monday when the American exchanges open, and then, when those
exchanges open, it will be able to close - to close out the relevant deals which
are traded on those exchanges... The second that happens, your copy position will be
closed, and the money will be returned back to your available balance. But, until
those exchanges are open, it's going to say 'Pending Close'. Now, one time I've seen
this happen, and I've mentioned this before, and he might be watching this, so
again, thank you for that example. I saw it happen where it was four days in a row.
And so it was Friday, he'd closed it I think, and so Friday night, it was 'Pending close'
he'd closed it just after the markets on Friday. Friday night 'Pending
close', Saturday 'Pending Close', Sunday 'Pending Close', Monday it was still
pending close... He's freaking out - that's four days, something
must have gone terribly wrong. And so, he asked, you know - "What's this!?" I went, and looked at
his portfolio, and what I found, much like - okay, so if I go here
Jay and MrThor are usually trading U.S tech stocks, and some other things, and
cryptos. If I go to Mr Fastik here, and I look what - there's, you know cryptos
and some things, and da da da - if I go down the page, if I keep going down, I'm
going to find this one here - you see that - 'BUY RWE.DE' - so if you ever want to know where an
asset is traded - say RWE.DE, just type it in... RWE.DE - it'll come up there, click it, and
over here, on the right, it tells you a bit about it. "RWE AG is a German
electric utilities company that owns numerous power plants in Germany..." all
right "the United Kingdom, and the Netherlands..." It owns power plants in a lot of
places.... Frankfurt - so, it's classed as a utility, and it's traded in Frankfurt.
That's its native home exchange, all right. So, you can only buy and sell this
when the Frankfurt exchange is open. You can look up the exchange times - there's
lots of sites on the internet where you can find out - "when are the different
exchanges open and closed." This one's traded on Frankfurt. So, what had happened is
he had got another one - I think it was Volkswagen.de, and I looked through his
portfolio - they're all there, it's pending close, and there was a Volkswagen one in
that. So I went, and that's obviously, it's traded in Germany as well. So, I went and looked
at the German exchanges, and it just so happened that on that Monday, there was a
German public holiday, the exchanges were closed, so it couldn't sell his German
- his German stock, okay. So it couldn't close it. So, it had been open Friday night
because the exchanges were already closed, Saturday closed, Sunday closed, and Monday
the German - he had one stock which was German - one of them, and it was that
one, and because that one couldn't close, the entire copy couldn't close - so it was
keeping the entire copy open, waiting for all of them to finally be sold before it
closed it, and returned the money to his 'Available balance.' So, we worked this one out
and then on Tuesday, when the German exchanges opened again, boom - it got sold
it got closed - that position, and the money was returned to his available
balance. So, that's the usual thing... Anything you want
to find - anything - you can find any stock that you can find in here... 'First
Solar' ok - FSLR... FSLR - if you're not sure, just do that.
It's traded on the New York - in New York and, it's a technology stock. So, you can
find them all by looking that way. Very simple. So have no fear. I have yet to
see another reason why it says pending close... So, do a little investigative work
the one which is pending close - go through it, have a look at the stocks, and
check if the exchange which that stock is traded on is actually open at the
moment, and when it will next be open, because most likely, whenever that
exchange is next open, that's when your copy will close, and the money will
come back to your available balance, and then you can go off, and do what you want with it.
There we are hope that helped.