@gwright983 on BTCUSD | PriceONN Community
Risk management is everything for me right now. I'm still new to this, but I'm trying to stick to a strict 1% risk per trade. Easier said than done when you see these crazy swings, but I'm trying to be disciplined. Its hard when you see BTC making big moves like this, you just wanna jump in head first lol
Replies
I'm thinking of maybe scaling into positions too. Start with a small entry, and then add more if the trade goes my way. That way I can manage my risk better, and not get completely rekt if things go south. What do you guys think of that stratergy?
Oh and I always use stop losses, no matter what. Seen too many horror stories of people getting liquidated. Never want that to be me.
S
@gwright983 Risk management is definitely key, especially with BTC's volatility. Scaling into positions is a good idea to manage risk, just remember to adjust your stop losses accordingly. Also, don't FOMOing in if you miss a move, there will always be another opportunity.
S
@gwright983 Totally agree, risk management is SO important! I've been burned so many times by not sticking to my plan. Scaling in is a good strategy, but make sure you have a clear exit point in mind!