Must we protect against gap during week-end ?

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Hi

I'm thinking about protection in my EA.

what's happened if you have a buy order on friday evening with price 0.90000 and Stop Loss 0.89900. and If the opening on monday morning is lower than 0.89900 ?

Will SL fired at 0.89900 or lower ?

Wha's your strategy on friday evening ? Is it better to close all trade on friday evening ?

thanks

Phil

 

Depends on the EA. For EAs with longer term (> 1 day) strategies, no new trades from Friday mornings onwards. Already opened trades are allowed to continue.

 
blogzr3 wrote >>

Depends on the EA. For EAs with longer term (> 1 day) strategies, no new trades from Friday mornings onwards. Already opened trades are allowed to continue.

Already opened trades are allowed to continue.

And what about week end gaps ?


 
Matutin wrote >>

what's happened if you have a buy order on friday evening with price 0.90000 and Stop Loss 0.89900. and If the opening on monday morning is lower than 0.89900 ?

Will SL fired at 0.89900 or lower ?

Lower - the broker would put [gap] in the order comments to show the exact SL price wasnt used

Wha's your strategy on friday evening ? Is it better to close all trade on friday evening ?

As blogzr3 says, depends on the strategy..

My hedging strategies carry over - they wouldnt have an SL set anyway

Some range trading EA's will carry over OK

Breakouts and trend followers would normally not open after a certain time on Friday and would almost never be left open over the weekend

Good Luck

-BB-

 
thanks everyone.
 
Matutin:

what's happened if you have a buy order on friday evening with price 0.90000 and Stop Loss 0.89900. and If the opening on monday morning is lower than 0.89900 ?

Will SL fired at 0.89900 or lower ?

Neither. If the market gaps below your SL, the order will not be closed. This problem is independent of the weekend.

* Do not assume that in a real-money EA that a stop or take
* profit will actually be executed if the price has gone
* through that value. Yes, they are unethical and mean.
* --LibOrderReliable */

 
Matutin:

Already opened trades are allowed to continue.

And what about week end gaps ?

My EAs treat all the bars as simply consecutive, so there are no "gaps" as such. I do a manual close on Friday afternoon if required, otherwise I just look forward to an interesting Monday morning. :)

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