@amelia911 on ETHUSD | PriceONN Community
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It's crucial to have a defined risk management strategy before entering any trade. For me, this involves setting a maximum percentage of capital I'm willing to risk per trade, typically no more than 1-2%. I also always determine my stop-loss level pre-trade, based on technical analysis rather than arbitrary numbers. This ensures I'm not emotionally swayed if the market moves against me. I find adherence to these rules prevents significant drawdowns.
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I agree with you @amelia911, risk management is paramount. I always set my SL based on key technical levels like support/resistance or indicator signals, never just a round number.
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Completely agree @amelia911. Pre-defining your stop loss based on technicals is key. I usually look at pivot points or previous support/resistance levels for my exit, rather than a fixed percentage. Keeps it objective.