@james2001 on XAUUSD | PriceONN Community
J
I always cut my losses quick, it's the only way to survive long term. I never risk more than 2% of my capital on any single trade, and I always use a stop loss. Even gold can go south quickly! It's tempting to FOMO in sometimes, but gotta stick to the plan. Discipline above all else!
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J
Oh, and another thing, I always have a profit target in mind too. Gotta know when to take profits, not just cut losses. Greed can be a killer.
Hey @james2001, totally agree with you on cutting losses quick, mate. It's like, you gotta treat your stop loss like it's your best mate, always there to save you from a dodgy situation. I tried holding onto a losing trade yesterday and nearly cried lol. And that 2% capital rule? Solid. I'm still figuring out my exact risk per trade, but that's definitely the goal. It's so easy to get caught up in FOMO, especially with gold moving like it does. What's your usual process for setting profit targets on XAUUSD? I struggle with knowing when to bail out with a win.