Orders submitted to Investrade and entered by Investrade for the E Session are eligible for a single session only and they cannot be changed to an open order in a regular trading session. If an order is not executed during the E session for which it was entered, then the order will be automatically canceledl on at both the Chicago Stock Exchange and on the books and records of Investrade. Only unconditional limit orders are eligible for execution during the E Session. Not every security is eligible for after hours trading. Risk of Lower Liquidity.
Liquidity refers to the ability of market participants to buy and sell securities.
Generally, the more orders that are available in a market, the greater the liquidity. Liquidity is important because with greater liquidity it is easier for the investors to buy or sell securities, and as a result, more likely to pay or receive a competitive price for the securities purchased or sold. There may be lower liquidity in the extended hours trading as compared to regular market hours. As a result, your order may only be partially executed, or not at all. Risk of Higher Volatility.