@joshuareed74 on XAGUSD | PriceONN Community
J
I'm trying to scale out of my silver position. I bought a bit more last week when it was around $71, thinking maybe that geopolitical news would push it higher. Now that it's dropped, I'm thinking of selling half at $68. If it keeps falling past that, I might have to cut the rest of the position to avoid bigger losses. It's a bit scary seeing it move so fast.
Replies
Hey @joshuareed74, I totally get what you mean about buying higher and then watching it drop. It’s been happening to me too and it’s super stressful, especially when you can’t sleep and are just staring at the Asian session charts. That $71 buy-in must feel rough right now. I’m also a bit nervous because I saw that big red candle on Friday, it looked really bad, like it was just going to keep falling. Amelia mentioned it too. I’m not sure if selling half at $68 is the right move, but I guess it’s better than losing everything? I’m still learning how to read these moves, and honestly, the dollar strengthening is making me very anxious about silver. I wish I knew more about how the big players move the market, like the 'smart money' people talk about.
G
Oh man, @joshuareed74, I feel you. Buying at 71 and seeing it dip immediately is the worst. I'm still trying to figure out my own strategy for scaling out. Right now, I'm watching that 70.63 pivot point. If it breaks below that, I'd probably get out of my position too. It's tough when the price action doesn't match your expectations. Is that geopolitical news still driving things, or is it just general market sentiment now? I'm just trying to keep my head above water and not get rekt.