need some quick advice here, i have two position open on this trend atm.
the markets have just opened with a large gap down in the direction of the trend.
should i hold or close these trades, i have very limited knowleage of gaps atm, and currently researching them as we speak lol.
first time i’ve rly help position over the weekend so haven’t had any dealing with gaps.
This is a question you should have answered BEFORE entering a trade. It is very important that you know how to manage your trade before you enter it and not scramble once it moves against you or in your favor. Plan your trade ahead properly before entering it.
Close it according to your strategy.
One: If you are holding a position over the weekend, it better be because of your strategy. Close it as per your strategy and always have an entry and exit strategy in place before placing orders…good luck.
Yes x 100.
PLAN YOUR TRADE AND TRADE YOUR PLAN.
Any position you take heading into the weekend needs to have some consideration for a potential gap in price…
i think it’s a big risk in having a position over weekend, because of gap potential. what did u do ?
i closed my trade and counter traded the gap close.
it broke even in the end
Just be careful playing what I call the “two-for”…
I.e. You go short, and the market moves against you rallying. You close your short position out at a loss, and decide to go long to catch the rally further. The market moves against your long position, and comes back down to your short entry point. You close your long position out at a loss- thus, getting beat on both ends of the market- a “two-for-one”.
Jake
