Trades

To add comments, please log in or register
Charmante
164
Charmante  
Shall I close all trades at the end of Friday to avoid losses as direction of instruments may change or leave them open until next monday?
olzonpon
380
olzonpon  
Charmante:
Shall I close all trades at the end of Friday to avoid losses as direction of instruments may change or leave them open until next monday?
Depends if you are trading long or short term.
Samuel Akinbowale
4637
Samuel Akinbowale  
Charmante:
Shall I close all trades at the end of Friday to avoid losses as direction of instruments may change or leave them open until next monday?
//-- this means you have an incomplete strategy ----//
this means you have an incomplete strategy
Charmante
164
Charmante  
Samuel Akinbowale:
this means you have an incomplete strategy
So what is a complète strategy?
Ahmet Metin Yilmaz
3423
Ahmet Metin Yilmaz  
Charmante:
Shall I close all trades at the end of Friday to avoid losses as direction of instruments may change or leave them open until next monday?

It depends on your strategy

if you want to close all open orders on friday you may not open orders on friday too, i think

Anthony Garot
2585
Anthony Garot  
Charmante:
Shall I close all trades at the end of Friday to avoid losses as direction of instruments may change or leave them open until next monday?

As others have pointed out, it depends upon whether you are a long term trader or short term trader, and it depends upon your strategy.

It's true that trading continues over the weekend even if our brokers/dealers do not offer access to the action during weekends.

So, on Monday morning, you might find that the market went against you quite a bit. Similarly, it may have gone in your favor quite a bit. But what does "quite a bit" mean in this context?

If you are a long term trader, having the market go 30, 50, or even 100 pips against you may be acceptable. If you are looking for smaller "bites," even 30 pips may be disastrous.

The way to get a sense of this is to place a bunch of demo trades and look for yourself. If your strategy can be encapsulated as an EA, then you can see what happens using the Tester.

To add comments, please log in or register