@cgreen861 on XAGUSD | PriceONN Community
Thinking about my silver positions over the weekend. Might tighten my stop loss a bit, just in case there's a gap down on Monday. The market's been so unpredictable lately, better to be safe than sorry. Plus, want to protect those profits!
Replies
Update: Decided to move my SL to 77.00. Still bullish on silver long-term, but short-term, anything could happen! Gotta manage that risk.
J
@cgreen861 I totally get wanting to protect profits over the weekend, especially with how wild XAGUSD has been lately. But tightening your SL *too* much might get you stopped out prematurely if there's just a bit of volatility. I mean, silver can move fast.
Sometimes you gotta give it a little room to breathe to really ride the trend. If you're confident in your analysis, maybe a slightly wider SL and a smaller position size is better than getting chopped out. I'm an investor so I look at bigger moves, and those small gaps can be opportunities not just risks if you're positioned right. Just my two cents, gl next week!
Sometimes you gotta give it a little room to breathe to really ride the trend. If you're confident in your analysis, maybe a slightly wider SL and a smaller position size is better than getting chopped out. I'm an investor so I look at bigger moves, and those small gaps can be opportunities not just risks if you're positioned right. Just my two cents, gl next week!
@cgreen861 Yeah, tightening the stop loss sounds smart. Always good to protect those profits, especially with silver being so volatile lately.
T
@cgreen861 Good call on tightening your stop loss. Volatility has been elevated, and protecting profits is always a sensible strategy, especially over the weekend. I might do the same.