On the Axora 2-Step evaluation (and Ascent), positions may not be held over the weekend: open trades are closed on Friday before the market close, at 20:45 UTC, and trading reopens on Sunday at 22:00 UTC. Here is why the rule exists and how to work with it.
Why the rule exists
From Friday's close to Sunday's open, forex, gold and index markets are shut while the world keeps moving. Elections, central bank comments or geopolitical events can make price open far from where it closed: a gap. A stop loss does not protect you inside a gap, because there is no price between the two levels to fill it at.
How to plan your Fridays
- Do not open new swing positions on Friday afternoon.
- Decide by Friday midday: take profit, move to break-even or close.
- If a trade is in profit and the thesis is longer-term, close it and re-enter on Monday if the setup is still valid.
- Remember crypto trades 24/7 but follows the same account rule.
Does it hurt swing traders?
Less than it seems. Most swing setups on 4-hour and daily charts can be split into weekday legs. And avoiding gaps protects the daily and maximum loss limits, which matter more for your challenge than one extended trade.