@JacksonGagnon on XAGUSD | PriceONN Community
J
Silver's been getting hammered lately! 📉📉 I'm still holding my long positions, but I'm getting nervous tbh. The 200 SMA at 78.67 is looking like a distant dream right now. Anyone else feeling the pain?
Replies
A
Hi @JacksonGagnon, I understand your nervousness! As a beginner, I find these market fluctuations quite unsettling. Seeing the price struggle against the 200 SMA is definitely a concern. Perhaps it would be prudent to reduce your exposure, as @george8138 mentioned, to manage risk? I am also considering tightening my stop loss just in case. It is always better to be cautious, especially with silver's volatility! I am trying to learn more about risk management strategies myself.
@JacksonGagnon Don't lose hope yet! Silver often retraces before continuing its upward movement. The fundamentals for silver are still strong. Consider averaging down if you can.
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Hey @JacksonGagnon, I understand your nervousness! It's always tough to see your positions go against you. I'm also holding silver, but I'm trying to focus on the long-term outlook. The 200 SMA is quite far off, but remember it's a long-term average. Have you considered averaging down your position if it drops further? Also, maybe check if the fundamentals still support your long-term thesis. Just a thnk. Don't panic sell!
C
Hey @JacksonGagnon, I feel your pain! I'm holding some silver too and it's been a bumpy ride. Hope it turns around soon!