Hi,
I found out all about why not to have an open trade during
the weekend. I was short on the gbp/chf and it opened up 61 pips.
My question for all the pipsters is what happend that made this gap?
There was trading going on in a secret place?
Who/what decided that it will open up 61pips?
Thanks,:o
thats gambling and you shouldnt do that. gaps have been known to be +200 pips and what if it was against you???
Heres a better idea. Notice when there is a gap that price usually closes the gap sometime right away but almost always within a day.
watch for it… if the price gaps 60 points down you could long and take profit at fridays closing price.
just food for thought
btw welcome to babypips 
My question for all the pipsters is what happend that made this gap?
There was trading going on in a secret place?
Well not so much a secret place, but the FX market contiues to operate for banks and other large institutions over the weekend. Only retail FX brokers close during that time. The gap is merely the difference in price from when your broker closed on friday and when they opened on sunday at the actual market price.
This can be quite risky, as some currencies can drop/increase several hundred pips over the weekend. And if you have a SL in place it gets closed out at the current market price (check your brokers rules to be sure)