@msoni627 on EURUSD | PriceONN Community

Okay, so I've been doing some more reading on gap openings, and it seems like the best strategy is to be prepared for anything! I'm thinking of setting up two orders: one to close my position if there's a gap down below 1.1855, and another to add to my position if there's a gap up above 1.1875. This way, I can take advantage of the volatility and potentially profit from the move. It's a bit risky, but I think it's worth a shot. What are your thoughts on this strategy??

Update: Thinking of setting up a conditional order to close my position if there's a big gap down. Something around 1.1855 seems like a reasonable level. What do you guys think? Any suggestions for managing gap risk?

@msoni627, I share your concern about a potential gap. It's prudent to manage your risk, especially over the weekend. Perhaps consider reducing your position size further to mitigate any unexpected volatility?

@msoni627 Yeah, I'm also a bit worried about a gap opening on Monday. 😬 The consolidation around 1.178 level is making me nervous, tbh. I think it's a good idea to keep an eye on the news over the weekend. Maybe set a tighter stop loss than usual, just in case? I'm still learning about gap trading, but it seems like it can be risky. What's your strategy for dealing with potential gaps? Any tips for a newbie like me? 🙏

@msoni627 yeah, I'm sweating a bit too. Held a EURUSD short over the weekend, and now I'm having visions of a gap up on Monday morning. Fingers crossed it doesn't go too crazy, lol.

@msoni627 Yes, a gap is possible with EURUSD over the weekend. I'm also a bit worried about that. Maybe reduce your position size to manage risk?