If it does it at all shutter speeds then it is not normal. What you are describing is what is called usually the B mode.
Most shutters have T (Timed) One click on One click off modes
B (Bulb) Open as long as the shutter is depressed
I (Interval or Instant) for a single shutter click.
and then a bunch of speeds. You will need to set it to the others probably. But a lot of different models of argoflexes were made.
This page has pictures and details on all the different models made
http://www.argoflex.com/camera_guide.htm
Once you know the model, you can then do a google search and probably find a manual online for it.