Trading GOLD over weekends?

Hello!

This will be my first post here!

I just started trading with gold and i`m woundering if its a bad idea to be in the market over the weekends?

My leverage is 25X and i set my stop-loss at 1092.85 (current price is 1147.20). Ive heard people talk about gaps and stuff that occurs betweend the weekends and im worried that it will trigger my stop-loss.

So should i move my stop-loss lower or should i get out over the weekends?

My plan is to invest in gold over a long time (maybe until summer when the price goes down a litte bit) so it would be nice to stay invested all the time and don`t worry about sell before every weekend and buy every monday…

Thanks!

//John (Sweden)

John
Sounds good. I would move the stop loss to suit but be carefull not to get
Spikes out. That’s my take on it

What trading platform are you using with the gold?

Forex wales

Weekends are like holding overnight, just longer. :slight_smile:

What I mean is when you hold overnight you expose yourself to the risk of something untoward happening in the market while you’re sleeping. Weekends are basically the same, just longer. If you are planning on holding positions for weeks or months, though, weekends are part of the trade. It would be crazy to close on Friday and re-open on Monday because 1) it would cost you in terms of all the extra transactions, and 2) price gaps over the weekend can just as easily go for you as against you.

some people are strongly against it, some people are for it, it depends on what kind of trader you are really.

#Forex Wales
Ok, so you mean that i should lower my stop loss, right? :slight_smile: Sorry my english is not 100%

#Rhodytrader
Thank you for your reply. your really right about all the extra transactions costs that will occur due to all the bying and selling, didnt think about that… Do you know how many pips the price can change over the weekend, are we talking about several hundreds of pips or just i minor change?

#Marcus1rex

Your right about that. If i traded short-term i would never be in the marked over weekends/overnight.

I bought gold for about 2 days ago and it`s already up +65% (about 53 dollars) so im really tempted to take profit! BUT i will stay in the marked and hope for a bigger upswing in the goldprice.

It could change not at all, or it could change significantly, or it could be somewhere in the middle. Most weekends the changes won’t be very meaningful. There tend to only be significant gaps when there’s some kind of major news development.