@rMartin65 on ETHUSD | PriceONN Community
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I've been trying a scaling strategy with ETH, and I'm curious if others use this approach. I typically start with a smaller position, say 25% of my intended total, and then add to it as the price moves in my favor. If it goes against me, I'll add another 25% at a predetermined level to lower my average entry. However, I'm finding it difficult to determine the appropriate levels for adding to my position. Any thoughts on how to optimize this strategy? I'm also considering implementing a stop-loss at each scaling level to manage risk better. It's a bit nerve racking, but it seems to be working better than just jumping all in at once.
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@rMartin65 That scaling strategy is interesting! I've tried similar things, but I always end up getting rekt when the market reverses hard against me haha. Do you use any specific indicators to determine when to add to your position, or is it just based on price levels? I usually wait for confirmation with RSI or MACD before adding more. I might give yr strategy another try!
@rMartin65 I totally get what you mean about getting rekt when adding to a losing trade. I've done that a few times and it never ends well, haha. I usually try to avoid adding if it's already down more than 1% or so, but sometimes the temptation is strong. Have you found any indicators that help you decide when to add more, or is it more about price action for you?