To start explaining the whole process of avoiding weekend gaps using our Expert Advisors forex robots we would like to give you some information about what are gaps.
Gaps occur when there are technical factors or fundamental in the Forex Market. These factors may lead the market to open at a higher or at a lower price than the closed price on Friday.
The gap size could be from a few pips to hundreds pips. Gaps are something very normal for the forex echange market. But when the gap size is really big this may affect forex robots performances. Specilly when there are some open trades remaining from the last week.
Most of the forex robots have average stop loss level around pips. Imagine that there is a gap greater than pips on Monday morning and you have a few open trades. All of them can be closed on stop loss if the price go to the wrong direction. Therefore most of the forex trader don't like gaps and they are looking to avoid gaps using different techniques. The good thing is that all of our forex robots WallStreet 2. In order to avoid such a gap you can use FridayExit rules settings available in our forex robots.
We will try to explain you all these parameter with several examples because there are many combinations. Below you can find examples:. To stop trading on Friday at To stop trading on Friday at all: These hours are based on the broker's time! If you want to set any custom value it must be between 0 and Even though there are such settings for avoiding weekend gaps you are not obligated to use them. By default, all of these settings are disabled.
According to our 17 years backtests, the weekend gaps don't reflect over the robot's performances. Therefore you can use these settings at your desire. What settings should I have? I want to stop trading on Friday at 5 pm and to keep the opened trades if there are. If you have other comments don't hesitate to comment or write to the support team. Dear Wallstreet-Forex Team, I wonder if you could add a feature where we can select which days the robot will trade and on which days it will not trade.
Our developers have tried such system in WallStreet 2. But of course we will discuss this with our developers and they may implements such a system for one of the future versions.
Did you check out our other robots? Why Gaps affect Forex Robots performance? How to avoid weekend gaps? Below you can find examples: How to avoid losses from trading early on Monday morning?
Short description of all the used paramters above: Alexandra February 10 , 1:More...