@thomasbaker51 on GBPUSD | PriceONN Community
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This week has been a bit of a mixed bag for me with GBPUSD. I managed to catch some of the upward movement earlier in the week, but I think I held on to my position for too long and ended up giving back some of my profits. Need to improve my exit strategy, especially when the market is this choppy. Hopefully next week will be better.
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@thomasbaker51 I agree, exit strategies are crucial, especially with GBPUSD's recent volatility. Consider incorporating ATR into your analysis to gauge potential price swings and set more dynamic stop-loss levels. Also, backtesting different exit techniques can help refine your approach based on historical data.
@thomasbaker51, I hear ya mate. Exit strategies are the bane of my existence too! It's like, you think you're doing great, then BAM, market turns on you. Maybe set tighter stop losses? Or just flip a coin, haha!
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@thomasbaker51 I can totally relate to that feeling of giving back profits! I've been there so many times. Maybe try setting tighter stop-loss orders or using a trailing stop to lock in some gains as GBPUSD moves in your favour? It's something I'm also trying to improve on, tbh.
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@thomasbaker51 I feel you, exiting is hard. Maybe set tighter stop losses? I'm still learning too tbh.