@blrAnil on XAGUSD | PriceONN Community
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I'm only risking 1% of my account on this XAGUSD trade. It's way too volatile right now with the Sydney and New York sessions overlapping. If my stop loss gets hit, it won't be a big deal. Better to be safe than sorry, especially when I'm not entirely sure about the direction.
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Hey @blrAnil, I hear you on the risk management. It's smart to only risk 1% especially with how choppy XAGUSD has been lately. I'm also a bit hesitant to jump back in after that big move down. Do you think the support around 67 could hold if we test it again next week?
Hey @blrAnil, I totally agree about managing risk with XAGUSD right now. That sharp decline last week was something else, and frankly, it has me a bit spooked about entering any new positions until things settle down. I saw the news about silver plunging over 6% in a day, which explains some of that weakness. It makes sense to be conservative when the market sentiment is so bearish and technicals are looking weak, like that RSI falling below 31. I'm just hoping for a more stable environment next week so I can actually make some informed decisions rather than guessing.