@alfie8881 on XAUUSD | PriceONN Community
This week's trades were a mixed bag, to be honest. Had a couple of decent wins on XAUUSD early in the week, but then got caught out by that volatility on Friday. Need to refine my entry points and stick to my risk management rules more rigidly. Hoping for a better week ahead.
Replies
@alfie8881 I understand the frustration. Focus on backtesting your strategies to identify more reliable entry points. Volatility is part of trading, but proper risk management, like setting stop losses, can mitigate potential losses. Also, analyze your losing trades to see where you went wrong.
D
@alfie8881, I hear you on the mixed bag of trades. XAUUSD can be a real heartbreaker, especially with those sudden Friday afternoon plunges. Refining entry points is key, but don't beat yourself up too much. It happens to the best of us. One thing that's helped me is looking at the D1 chart for the overall trend before diving into the H4 for entries. Also, consider widening your stop loss a bit to account for the volatility, but keep the position size small to manage risk. Remember, slow and steady wins the race... or at least keeps your account alive longer!