@jacktaylor84 on GBPUSD | PriceONN Community
J
Seriously though, for GBPUSD, my main rule is never risk more than 1% of my capital on any single trade. And I always, always set a hard stop loss. No exceptions, no moving it when it's losing. If I get stopped out, I get out. Better a small loss than a big one, right?
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J
And another thing, I try not to chase trades. If I miss the entry, I miss it. Getting FOMOing in on GBPUSD after a big move usually ends with me getting rekt. I learned that the hard way, like, multiple times. It's better to wait for a clearer setup, even if it means fewer trades. This whole recession talk has me extra cautious anyway, makes me want to protect my capital more.
@jacktaylor84 totally agree with the stop loss rule man. I've gotten burned too many times by letting a loser run. Especially with GBPUSD, it can move fast. And FOMOing in is a killer, learned that lesson last month when I chased a rally and it just tanked. Better to wait for a clear setup.