Newbe advise

Trading Discussion
1

Hello everybody, I’m new here and very glad to found baby pips.

I would like to ask for an advise from my fellow traders.

It might be something trivia for you lads, but for me which I just got to forex
looks like a mountain.

So I opened a buy position in eurusd, taking in account the inverted hummers that were formed

But I didn’t knew that market closes in GMT+2 local time Friday at 23:00.
Now I have an open potion with loosing 106.20 eur.

Should I keep it open with the hope of going up on Sunday when markets open or I should close it.

Thank you all in advance!!!

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2

Your broker is closed during the weekend and trades can’t be closed…

3

Thanks for the reply :slight_smile:

In general you think it was wise to open a buy at that point?

4

  1. you can’t close trades on weekends

  2. it’s not as bad as you think since the usual spread is ~2pips and spread over the weekend 10-15pips. so your current balance is calculated with the large spread. when trading starts it’ll move to 2 pips again. in case you close the trade right after opening watch out for a tight spread. could be a matter of seconds.

5

Thanks a lot guys!!!

What do you think about the sell I opened?

The 3 inverted hummers is a good reversal?

6

Sounds like you are trading without a strategy or at least without one you trust. Maybe you should spend more time learning about forex before placing trades. When it comes to trading you should trade your strategy and not seek confirmation elsewhere.