@nadiamalik93 on DXY | PriceONN Community
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For DXY, I'm using a scaling strategy. I enter with 25% of my planned position, then add another 25% if it moves 20 pips in my favor. If it goes against me, I'll add another 25% at the next support level. TP at R1 or R2, SL below the last swing low. This approach helps me manage risk effectively!
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@nadiamalik93 That's an interesting scaling strategy! I like the risk management aspect of it, but have you backtested it extensively? I'm curious how it performs during high volatility periods, especially with news events like the CPI data coming up. Sometimes those whipsaws can really mess with scaling strategies. I've tried similar things with crypto futures, and slippage can be a killer. Also, what indicators do you use to determine your support levels for adding positions? Just curious about your process! Maybe RSI or fib levels?
@nadiamalik93 I like the idea of scaling! I've tried it before, but my problem is always sticking to the plan and not getting greedy lol. Do you find it hard to manage your emotions when you scale in?
@nadiamalik93 Your scaling strategy sounds quite disciplined. I'm curious about your win rate and average profit per trade using this method. My main concern would be the potential for significant losses if the market reverses sharply after you've scaled in multiple times. Have you considered using a wider stop-loss to account for increased volatility?