@madebayo250 on USDJPY | PriceONN Community
M
Okay, so I've been trying a scaling strategy with USDJPY. I don't put all my capital in at once, especially with this volatility 😬. I enter with a small position, and if it goes my way, I add more. If it goes against me, I cut losses early. Going to bed now...hope this works out overnight 🙏
Replies
@madebayo250, I understand your approach to scaling in, especially given the volatility. It's a sound risk management strategy, particularly for newer traders. However, consider the potential for slippage and increased transaction costs with each additional entry. Also, ensure your stop-loss placement accounts for wider swings in price. I'd also suggest backtesting this strategy across different market conditions to assess its effectiveness. Have you considered using options for hedging instead of just scaling? It might offer better protection with defined risk. Good luck with your overnight position; hope it works out well for you.