@lwilson17 on BTCUSD | PriceONN Community
L
I'm trying a new strategy where I scale in on BTC dips. Like, I bought a little at 71000, then a bit more at 70700. My thinking is, if it keeps dropping, I get a better average price. But if it bounces, I'm already in. Gotta be careful with leverage tho, don't want to get rekt. Anyone else do this?
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oh and another thing about scaling IN... I'm using the Bollinger Bands as a guide. Like, if BTC hits the lower band, I'll add to my position. But if it breaks through, I'll hold off. it's not foolproof but seems to help me avoid catching a falling knife lol
Hi @lwilson17, that scaling in strategy sounds pretty smart, especially for a beginner like me! I'm still a bit scared to use too much leverage, but trying to get better with managing risk. I like your idea of using the Bollinger Bands as a signal for adding more. That makes sense – if it’s hitting the lower band, it’s definitely looking like a dip.
I haven't really tried scaling in like that yet, usually I just enter once and set my TP and SL. But seeing the price drop today has made me think about different entry methods. It’s a bit scary though, because what if the lower band just keeps breaking? Did you have a specific stop loss in mind for those scaled-in positions, or do you just let them run until they hit a certain average price?
I haven't really tried scaling in like that yet, usually I just enter once and set my TP and SL. But seeing the price drop today has made me think about different entry methods. It’s a bit scary though, because what if the lower band just keeps breaking? Did you have a specific stop loss in mind for those scaled-in positions, or do you just let them run until they hit a certain average price?