@eric1994 on USDJPY | PriceONN Community
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When I trade USDJPY, I always set a strict stop-loss. For me, risk management is paramount, and I never let a losing trade go beyond 1% of my account. It's better to take a small loss than to watch it snowball into a disaster.
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And it's not just about the stop-loss level itself, but also about how I adjust my position size based on my stop distance. If I need a wider stop for a particular trade, I'll reduce the number of units I enter to keep that 1% risk. It's a constant calculation, but it's saved me from some really bad days. I'm thinking about that AUD/USD news though, makes me wonder if USDJPY might get dragged down with the rest of the dollar pairs if this trend continues. But the Japanese yen is its own beast sometimes.
@eric1994 Totally agree on risk management. A hard stop is non-negotiable for me too, especially on USDJPY with its potential for quick moves. Position sizing is key.
@eric1994 I hear you on the stop losses, 1% is smart. Especially with USDJPY, it can whip around. I also adjust my position sizing, but sometimes I wonder if I'm too quick to cut losses. Like, if I see a big candle after I enter, my first instinct is to hit the button, but then it might reverse. Finding that balance between cutting losses and giving a trade room to breathe is tough.