Hello guys this is my first time posting in babypips
This Friday morning I just woke up to find a massive 300 pip gain on my VT trader, and it’s rapidly increasing even as I type now. But I am worried whether to let it open as weekend approaches or close it at the end of the day.
My wisdom tells me that as long as the underlying primary trend hasn’t showed overwhelming evidences of reversal then I should not terminate my winning trades. However since the brokers are closed in weekends and I the monitors will show absolutely no change I am worried that somehow in Monday a huge gap appears against my direction wiping out both my profits and my stops.
So I am asking you guys since I am practically blind during weekends should I close it at the end of Friday? I may hold on to the trade in hoping a huge gap may also form in favor of my direction, but statistically speaking is it worth the risk?
I have a short profit on the AUD/USD that I am letting run over the weekend BUT I have put in a stop loss at the last swing high to cap it to only losing 20% of my current profit in case something happens. Hope that helps
So what you guys normally do is set stop loss on a portion of your profits huh?
Makes sense…if the market suddenly starts to hate me and attempts to wipe out my profits then my automated stop points will pull me out before it gets to eat all of them. Either outcome, I still make a profit.
Please note that your broker might not honor your stop over the weekend. So if there’s a huge gap in the opposite direction of your order its possible you might lose all your profits and more. Some will do but you have to talk with them about it.
