Comment by Mhamid on March 1, 2013 at 2:15pm

I asked myself that question many times too... The odd times, when I've managed to catch the high/low of the day and it has moved say 30 to 50 pips and I'm still in profit.. Rather then closing it, I lock in some of the position and see how it does on sunday to continue.. Most of the time, it has worked in my favour, or with the gap; even better! Other times, I have had to start over, though the little profit was good too. This sunday, for example, when UK got downgraded, most currencies had a huge gap, which I'm sure most traders took advantage off.

Ii'm sure there are many who'll open a trade just before closing on Friday, to lock in a bit of profit and see where it opens over the weekend.. If I haven't got a glass of wine on my hand on Fridays, I do ask myself that very same question. Though trading with a glass of wine isn't advised.. ;-)

Comment by Derek Frey on March 1, 2013 at 3:09pm

I agree with you both.  I usually prefer to close most trades on Friday unless they are already locked in at b/e or better.  And if it is locked in I too will let it run as long as it wants to while trailing a stop.  

Drunk trading can sometimes be worse than Drunk Dialing...lol...I will raise a glass to you...;-)

Comment by Romano on March 1, 2013 at 4:47pm

When u hold over weekend or even to next day, you obviously trade longer term. In that case, you are supposed to trade with such position size as to avoid excessive drawdown to your equity.

As for gaps, this week on jpy pairs was quite unique as I havent seen gaps for quite some time. But they mostly occur in direction of main trend anyway, at least from my experience.

Comment by Peter jcp on March 1, 2013 at 5:02pm

Hi Derek - I have left position trades on over weekends in the past - but nowadays prefer to just take my money and run all the while - and even miss nice moves when they do happen;-)

With regards to Monday and Friday's - I keep hearing of many traders who don't trade these two days - as they believe Monday's are too slow - and Friday's too manic ;-)

What ever "floats your boat" I suppose its good that we as traders are all so different with some only bull traders - others only bears and all these other modes of trading that do fascinate me.

Have a nice weekend and enjoy your Europe tour - its sounds fun to me ;-))

Regards

Peter.

Comment by Derek Frey on March 1, 2013 at 6:17pm

Guess I am on the other side then cause I am leaving my two EU longs on over the weekend since the stop is now at b/e...;-)

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