@akhan443 on XAUUSD | PriceONN Community
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My risk management is pretty simple: never risk more than 2% of my account on a single trade. I also always use a stop loss, no matter how confident I am. It's saved me from disaster more than once. And remember guys, cut your losses short and let your profits run. Very important rule.
Replies
@akhan443 Solid advice! Risk management is key, especially with gold's volatility. I've been burned before by not using a tight enough stop loss. Agree 100% on cutting losses short.
@akhan443 Solid advice on risk management, especially that 2% rule. I think a lot of new traders underestimate how much gold can move against you in a short amount of time. I've seen so many accounts get rekt from overleveraging. I usually set my SL based on key levels, not just a fixed percentage. Like, if I'm long, I'll put it below the last swing low or a significant support level. That way, it's less likely to get hit by just random noise. What's your take on using technical levels vs percentage-based stops?
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@akhan443 Agreed on the 2% rule. It's a simple yet effective way to protect capital, especially with XAUUSD's volatility. Stops are non-negotiable.
@akhan443 I agree that risk management is super important. I'm still learning about stop losses, though. Where do you usually put your stop loss when you're trading gold? Like, based on what? I've been burned a few times by setting them too tight and getting stopped out for nothing lol