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Originally Posted by sr2
Whats the view with regards to leaving trades open over the weekend?
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That's quite a big difficult question!
There are actually 3 options here not just 2. You can leave your positions alone remove them or leave the positions remove the stops (not as dangerous or hare-brained as it sounds!).
The short answer is that it depends mostly on which broker you're using a little bit on how reliable it is that you're going to be around on Sunday afternoon/evening when things re-open.
Looking at it logically the perspective of your "system" you ought to be leaving them alone. But ...
Although in theory the markets won't move much while they're closed obviously the reality is that on Sunday the New Zeal opening _can_ cause a spike big enough to take out a stop-loss. If you use FXCM for instance that can result in your getting stopped out in situations when clients of many other brokers don't get stopped out. (This has caused something of a furore recently at another forum). FXCM attribute this simply to the fact that they open earlier than most other brokers (which they do) are therefore more subjected to this "spike" than most others (which they may be). But I can tell you that if you use O--A or F-X-S-o-l you won't have this Sunday problem: the reality IMHO seems to be that it's more or less specific to FXCM. In some places they call this "being FXCM'ed"!
Since you're in the UK you ought (IMHO) to be doing this by spread-betting anyway (sorry to go on about it) in which case the reality in practice is that you're not going to have the problem anyway with regard to your own trades.
In short: my "bottom line" answer is that you probably needn't worry unless you're using FXCM. Not worth risking extra costs complications by closing re-opening positions.
Subsidiary point: it might not be madness to leave the positions on but take the stop-losses off just until after markets re-open on Sunday. Something to think about certainly a well-established reasonable course of action which is recommended by some CTA's.
Have a good weekend all ...