@AshleyM94 on EURUSD | PriceONN Community
Been trying a scaling strategy with EURUSD lately. When RSI hits oversold like it is now, I buy a small position. If it drops more, I buy a bit more at the next support level. Trying to avg down my entry. It's risky, but less stressful than going all in at once. anyone else do this?
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oh and i forgot to mention... i always set a stop loss for the entire position, just in case. usually below the previous swing low. gotta protect the capital, yknow? and take profits gradually as it goes up, of course. I'm still learning the ropes so any tips are welcome!
G
@AshleyM94 your scaling strategy sounds interesting. Averaging down can work if you have solid conviction and a clear exit plan. I'd be cautious though, especially with EURUSD volatility lately. Always good to protect capital with that stop loss, as you mentioned. Have you found it helps avoid taking big losses on bad entries?