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[wlaubach]

I have been told to be very careful trading forex on a Sunday. Can anyone give me a more in depth answer to why it’s called pick your pockets Sunday?

[Miked23]

A big reason is it's flat on saturdays, I mean your talking Monday morning Euro session when the 4x picks back up. A pile of fundamental reports from many different countries sways the market, much like morning sessions of the us, uk, markets are unstable. At least not as reliable if you are a technical trader.

[grunwald]

With the increased volatility last few months, Sunday afternoon trading has been OK. Now, when the market behavior is closer to historical averages, moves on Sundays are getting smaller. You can be an the lookout for opening gaps, but they don't happen every weekend.

[finvik]

can any body tell why it’s called pick your pockets Sunday?

[pinalli]

Occasionally, you will see a huge spike up in price, on a Sunday, shortly after re-commencement of trading, after the weekend respite. Ordinarily, I would take the OHLC numbers from Friday, but given the nature of the wild swing up that evening on one of the 15 min bars, I would then use the OHLC numbers from Sunday night's session close to get a better reading on support and resistance levels for the next session. This is, of course, if you are using a market maker that delineates its break between trading sessions in the late evening - anywhere between 20:59:50 and 24:00 (midnight).