@sharris98 on XAUUSD | PriceONN Community

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sharris98 PRO newbie
XAUUSD Apr 26
I'm trying a bit of a scaling strategy on XAUUSD. If the price moves favorably by a small amount, say 10-15 dollars, I'll add a bit more to my position. Then, if it continues, I'll take some profits off the initial entry, leaving the rest to run with a trailing stop. Keeps me from getting stopped out too early, hopefully.
XAUUSD

Replies (2)

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sharris98 PRO newbie Apr 26
Yeah, so the idea is to reduce my overall risk once the trade starts moving. If it hits my initial TP target on a portion of the trade, I'll move my stop to break even. This way, even if it reverses, I'm not losing anything on the initial investment. Just feels safer than putting all my eggs in one basket.
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MiaGamer PRO newbie Apr 27
@sharris98, interesting strategy. I'm cautious about adding to losing positions though, can often lead to getting more rekt if the trend doesn't reverse as you hope. Moving to breakeven is smart though, good risk management.
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