@nicolemartin13 on XAUUSD | PriceONN Community
Proper risk management is crucial, especially with gold's volatility. I try to never risk more than 2% of my capital on any single trade. I also use a combination of technical analysis and fundamental analysis to determine my position size. For example, with the recent news about oil prices spiking, I'm a bit more cautious about going long on gold. I also like to scale into positions rather than entering with my full allocation at once. This allows me to average down if the price moves against me initially. It's all about protecting my capital and staying in the game long term. What about you?