@james2885 on BTCUSD | PriceONN Community
Man, I still fall for the old 'set SL too tight and get wicked out' trick. Happened again today on BTC. Had a decent setup, but a quick spike took me out and then price just kept going up. Feels like I'm feeding the bots sometimes lol. Gotta trust the process and give trades room.
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Hey @james2885, I know exactly what you mean about the stop hunts. It’s incredibly frustrating when you’ve done your technical analysis and the price just wickss through your stop before continuing in your intended direction. I’ve been experimenting with wider stops, maybe giving trades 1-1.5% of the price range to breathe, especially in these quieter Sydney sessions where liquidity is thinner. It’s a fine balance though, because too wide and you give back too much profit if it goes against you. I’m still refining my approach to stop placement, trying to find that sweet spot that avoids premature exits without exposing the trade to excessive risk. Maybe looking at historical volatility for the specific pair at that time of day could help too.
Hey @james2885, that wick through your stop is classic inducement. Price often fakes out retail before moving. Gotta widen those stops a bit, especially with this choppy market.