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Weekend gap trading

  • Post #1
  • Quote
  • First Post: Jul 21, 2012 3:48am Jul 21, 2012 3:48am
I'm interested on statistics involving the weekend gap. Does anyone know of a source regarding the frequency they are filled or not? They have been massively profitable for me, but I would like to understand them better.
I guess you are not using Stop Loss and averaging down when it moves against you while waiting for the gap to get filled?
Quoting C5fx
I'm interested on statistics involving the weekend gap. Does anyone know of a source regarding the frequency they are filled or not? They have been massively profitable for me, but I would like to understand them better.
They are filled almost all the times. If you have the patience, the funds ... and no StopLoss like said duyk20
MT4/MT5 EAs/Indicators/Alerts coder
I tested gap filling strategies on the eur/usd pair and haven't found any serious edges there. The gap gets filled most of the time but it happens rarely in the first hours of monday trading. It can be closed during a trading week but the price can get really far away from the gap before it closes it. When you set a wide stop loss then this one stop loss can eat all the profits you made from previous gaps filling. I really want to test a slightly different techniques, like taking profits when the gap is half closed instead of waiting for a full close. There is also an idea to check whether wide gaps close better than narrow ones or vice versa. Anyway, there must be something.
A better idea would be to place an order in the right direction at market close on Friday and take profit at market open
MT4/MT5 EAs/Indicators/Alerts coder
Quoting C5fx
I'm interested on statistics involving the weekend gap. Does anyone know of a source regarding the frequency they are filled or not? They have been massively profitable for me, but I would like to understand them better.

If you want to gap trade, then it is real easy. Basically do you know what the Gap is from? I would like to hear your answer before you go any further. I know why it Gaps however I need your input to direct you further and in a simple manner.
Know when to hold em, Know when to fold em!
Quoting FerruFx
A better idea would be to place an order in the right direction at market close on Friday and take profit at market open
Ah you see where the market gaps up or down to then just countertrade that and gap fills and becomes s/r whichever way you are trading it. Then you close the trade and look for trend continuation
Know when to hold em, Know when to fold em!
Quoting duyk20
I guess you are not using Stop Loss and averaging down when it moves against you while waiting for the gap to get filled?
I'm trading it like I would any other trade. I wait for it to bottom and start to turn on a 5m chart, usually at some sort of s/r level. I don't just enter it the moment my broker lets me start trading. I typically will wait for a pullback and then set my SL just below the lowest low formed from the gap.
Quoting goods
If you want to gap trade, then it is real easy. Basically do you know what the Gap is from? I would like to hear your answer before you go any further. I know why it Gaps however I need your input to direct you further and in a simple manner.
Honestly, I'm not 100% on why the gap is formed. I assume it has to do with off the market transactions that happen over the weekend, as well as news driven events that cause a surge in price. I'm sure you have a better understanding. I'm curious to hear what you have to say regarding it.
There's a gap at 1.3080ish that I'm sure someone with no stop loss is still hoping will get filled.
Quoting C5fx
I'm interested on statistics involving the weekend gap. Does anyone know of a source regarding the frequency they are filled or not? They have been massively profitable for me, but I would like to understand them better.
Could you please elaborate the case?
Quoting C5fx
Honestly, I'm not 100% on why the gap is formed. I assume it has to do with off the market transactions that happen over the weekend, as well as news driven events that cause a surge in price. I'm sure you have a better understanding. I'm curious to hear what you have to say regarding it.
This up coming weekend I want you to take a look at Oanda Quotes and you will see why the Gap occurs, on your plat form. you see, the market really is 24x7, there is no stop in the FX market, far and few brokerages can and will stay open 7 days a week.
Know when to hold em, Know when to fold em!
Weekend [broker] gap already closed for this week on EUR/USD. I am tracking this here: http://www.top-forex-systems.com/weekend-gap-backtest
EUR/USD gap closed for this week for small profit: http://www.top-forex-systems.com/weekend-gap-backtest
Weekend gap was only 2 pips. Therefore no trade for this method this week.
Weekend gap now closed for EUR/USD.
  • Post #17
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  • Last Post: Edited Apr 19, 2014 12:00am Apr 18, 2014 6:30pm | Edited Apr 19, 2014 12:00am
First time since September/2013 we didn't get a gap close within the week.

http://www.top-forex-systems.com/weekend-gap-backtest

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