@sailorEric on EURUSD | PriceONN Community
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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?
Replies
@sailorEric If you're going short, maybe place your stop loss just above the R1 pivot at 1.1856? Better safe than sorry! 😉
@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. 👍