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last Friday i made a big loss.
I was watching the EUR/USD pair for the whole week. I had some short positions opened thinking it would go down. When i started losing money, i put on some other long positions with the expectation to gain a quick buck. Yes, i made a couple dollars but that did not work well enough to keep me trading after all the trades went off line.That was a good move but leaving the losing trades on post kill my account before i can realize i was over my limits.

Sat, 07/07/2018 - 5:56pm
Mike Smith

A long time ago one of my market maker mentors told me never hold your position over the weekend. You don't know what will happen on the weekend and you can't get to your order because they lock it up. And if the currency didn't do anything anyway you'll just open the order monday at the same price you closed it on friday.


holding trades over the weekend can cause you to fly right past your stop losses and take a larger loss than expected. the unplanned for can always happen and cause a larger than anticipated move. 911 was one of those events.

Mike Smith

Waiting to sell EU at 1.19 T/P 1.15


Does anyone know where to get good business and trading news on Forex especially the EUR/USD. Are there any good free news sources?


I use while I am trading
and drilling down on a specific pair.