Saturday 23 April 2011

Leaving a trade on for 4 days

Eurex was closed yesterday and also is closed on Monday. I knew this on Thursday but decided to leave a position on which I had averaged into once. For a scalper this is pretty scary, the size I have on is a decent size (relative to myself) for scalping as well. Although I would often leave this size on overnight, but 4 days is a little different.

I guess it could open quite far away from me as the markets are shut for 4 days but the thing is, I am short the bund/bobl/schatz FLY which is on such a high right now and I think it was likely pushed up too far on Thursday as many people would need to be flat. Also not many people are going to put new positions on so I think it drifted and if there is no major news I think it will open lower. I also had a really good day on Thursday, it's hard to know how much I made because I carried positions over from Wednesday and took a bigger loss on them by holding it. And also I still have this trade on which is about 200 to 400 euros offside from Thursdays prices, but if I include only the trades I opened and closed on Thursday I made 1025 euros! which would beat my biggest day. My daily results always include trades I opened on that day no matter when I close them so I am hoping to close the trades I still have on somewhere in profit.

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