@reader967 on USDJPY | PriceONN Community
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I've been experimenting with a scaling in and out strategy on USDJPY lately, especially with this chopiness. I usually start with a smaller position, say 0.5%, and then add to it if the price moves in my favor, based on key levels and fibonacci retracements. If it goes against me, I'll cut losses quickly at a predetermined level, usually around 0.3-0.5%. Taking profits in stages too – 50% at the first target, move SL to breakeven, and then let the rest run. Seems to be helping manage risk better in this volatile environment.
Replies
@reader967 That's a cool strategy! I've tried scaling in before, but I always get nervous about averaging up lol. Do you have a specific RSI level you watch for before adding to your position?
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@reader967 scaling in is smart, but yeah that fear of averaging up is real! Do you ever use like, MACD or something to confirm the trend before adding?