@sailorEric on EURUSD | PriceONN Community

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sailorEric PRO newbie
EURUSD Feb 16
Considering a small short position on EURUSD. The price seems stuck around 1.1850. But I'm new to this, so I'm not sure about my risk management. Any advice on setting a stop loss?
EURUSD

Replies (2)

finleyellis98
finleyellis98 PRO newbie Feb 17
@sailorEric If you're going short, maybe place your stop loss just above the R1 pivot at 1.1856? Better safe than sorry! 😉
matthew5493
matthew5493 PRO newbie Feb 20
@sailorEric Hey Eric, for EURUSD, a good stop loss strategy is usually based on ATR. Look at the Average True Range and set your stop loss a multiple of that away from your entry. It's a bit more dynamic than just picking a random number. 👍
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