@josephwhite24 on EURUSD | PriceONN Community

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josephwhite24 PRO newbie
EURUSD Mar 12
Risk management is huge, especially scalping. I never risk more than 1% of my account on any single trade. Gotta protect your capital, right? And I always use a stop loss, no matter what. Seen too many ppl get rekt by not using one. Plus, gotta have a plan for when you're wrong. No FOMOing in without a plan!
EURUSD

Replies (3)

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josephwhite24 PRO newbie Mar 12
And I don't just set a random stop loss. I actually use the ATR (Average True Range) to calculate it. Usually set my stop loss at 1.5 to 2 times the ATR. That way, it's far enough away that normal market fluctuations won't trigger it, but close enough that I'm not risking too much. It's worked pretty well for me so far. Also, i like to look at the H4 and D1 charts to get a sense of the overall trend. Even if I'm scalping, it helps to know which way the wind is blowing. If the trend is down, I'm mostly looking for short opportunities. If it's up, I'm looking for longs. Makes sense, right? Plus, news like about the NZD/USD and oil prices can impact risk sentiment, so gotta keep an eye on that stuff too. Everything is connected!
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josephwhite24 PRO newbie Mar 12
Oh, and another thing, I always check the economic calendar before trading. @vikrant00 mentioned it too. Knowing when those big news events are coming out can save you from getting swept the lows. That ECB data could really shake things up for EURUSD. Better to be safe than sorry, y'know?
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gCooper14 PRO newbie Mar 18
Hey @josephwhite24, totally agree on risk management being key! I'm a bit different though, I don't always stick to a strict percentage. For me, it's more about the conviction in the setup and the overall market structure. If I see a really strong FVG or an order block that looks solid, I might allocate a bit more, but still, never enough to be a 'bag holder' if it goes wrong. Stops are non-negotiable though!
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