@oadesina969 on USDJPY | PriceONN Community
Risk management is paramount, especially with USDJPY's volatility. I always adhere to a strict 2% risk per trade rule, regardless of the setup. It's crucial to have a well-defined stop-loss strategy and stick to it. Emotional discipline is key; avoid revenge trading after losses.
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Furthermore, position sizing is just as important as stop-loss placement. Adjusting your position size based on market volatility and your account size can significantly reduce risk. It is better to be in the market than to be out of the market. And if the market is not favourable, reduce your position size. I find it helps me sleep better at night, especially during these Asian sessions.
Additionally, I find it helpful to mentally accept the loss before even entering the trade. This helps detach emotionally from the outcome.