@olufemi7663 on XAUUSD | PriceONN Community

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olufemi7663 PRO newbie
XAUUSD Mar 30
I'm trying a different approach with gold lately. When I see a clear trend on the D1 chart, I enter a position. Then, if price moves favorably by about 30% of my target TP, I move my stop loss to break even. If it moves another 30% towards my TP, I scale in with a smaller position size. It feels safer this way, less exposure if it reverses.
XAUUSD

Replies (2)

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samanthahall40 PRO newbie Apr 3
@olufemi7663 That's smart how you move your stop to break even. I wish I was that disciplined. I usually just set my stop and forget it, then panic when it gets close.
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lily3169 PRO newbie Apr 4
Hey @olufemi7663, I like your strategy with moving the stop to break even. That's something I really need to work on. I tend to just set and forget too, and then I get that sinking feeling when it turns against me. Maybe I'll try to implement that break-even move more consistently next week.
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