PROFIT PITFALLS

Profit or trade pitfall is a common issue among some traders. The feeling is good when your trade nets in profit on any pair you trade. Most newbeses traders and pros some times make the mistake of leaving a trade unclose over the weekends when the trade is in the money.
It is not all trades that can be left unclose. For instance, you've been having a series of bad trades for a while now but luck enough you got on the band wagon when a pair was trading in the money and you net some pips say 150pips in a single trade, now you're feeling cool with yourself about the new profit line and you're so confident that the trade will continue even when the market resumes. One fact you need to understand about the forex market is, no one and I mean no one can accurately predict the price action of the market the next moment, because you were able to score those pips after you got a signal that told you that the market will move 230 pips dont necessarily implies that the market will actually move those 230 pips before it reverses its action.
Price action have been studied over and over and all there exists for these studies are the formulars that came up afterwards.
These are the types of trades that can be left over the weekends.
LONG TERM TRADES: If your trade did not start when the pair took a major reversal either for the bulls or bear, then you definitely want to close every trade that has net you some good pips.
STRATEGIC TRADES: If your trade is not structure after some time tested trading method or automated trader which is able to close unwanted moves against your position or a method that guarranteed that the moves of the market is well provided for or that has an entry and exit strategy included.
WATCH OUT FOR
*WEEKEND ACTIVITIES
You must know that over the weekends alot of activities happens during the weekend which the market must factor into the new weeks trade, hence, you have GAPS which leads to a jump away from the previous close price and the new opening price. So you definitely want to avoid such traps and save yourself the pitfall.
*CARRYOVER COST: Every trading platform charge a cost for trades left over the weekends, such trade cost is deducted immediately the trading day starts again and usually, this cost is usually minimal or negligible when you have a trade in the money.
Trading platforms are designed to earn the operators some good money and whether you lose or profit, the platform will make money off your trades, so why incure losses when you can protect yourself and make profit.