Do you close positions on Friday before the market close?

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9	tomcat1762 2008.03.14 21:29 My EA is in trades for a period of hours/days, usually looking for t/p and s/l of around 100 pips. Is it advisable to close out all open positions on Friday before the market closes? And Why? Thanks! -Tom

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1235

BarrowBoy 2008.03.15 15:16

TC

You cant generalise on this - depends on the pair & whether you are trend following (stay in during trend) or range trading (might come out).

If your not coding up an established system (which would have a rule on this) then you'll have to back-test with & without closure at the weekend.

Very large positions are often hedged or covered before weekend, holidays or big news days - in case of unexpected moves on re-open of the market.

As EA's never sleep - we can usually avoid them having to closeout for this reason, so test, test & test :)

-BB-

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BarrowBoy 2008.03.17 13:49

As an update - one more reson to close orders is when your MT broker does not open when the markets open in Asia.

Some brokers open 15 minutes behind, others are a whole hour behind the market.

This leads to gaps on the price chart & 'bending' of indicators which upset some EA's

-BB-

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Do you close positions on Friday before the market close?