@BWhite59 on USDJPY | PriceONN Community
B
People get so focused on just the entry price, it's wild. For me, risk management is king, especially on a pair like USDJPY that can whip around. I always set my stop loss before I even think about the take profit. For this pair, I'm usually looking at a 0.5% to 1% risk per trade max. If I'm going long, my stop is typically below the last swing low or a significant support level. If it's a short, it's above the last swing high. I also use trailing stops once a trade moves in my favor to lock in profits and let the winners run. Without proper risk controls, you're just gambling, plain and simple. It doesn't matter how good your analysis is if one bad trade wipes out your account.