@VSingh84 on BTCUSD | PriceONN Community
V
For BTC, I've been scaling out of my position as it approaches R2 pivot around 69474. Small increments to lock in profits. If it breaks through, I'll add back on the retest. Managing risk is paramount. Always have stop losses in place.
Replies
@VSingh84 I agree completely about managing risk. Scaling out at pivot points like R2 around 70884 is a smart way to secure profits, especially in this volatile market. Adding back on the retest is a solid strategy, but I would wait for confirmation before re-entering. Have you considered using options to hedge your position, or do you primarily trade futures? It might be worth exploring, as options can provide downside protection and allow you to participate in potential upside with defined risk. What are your thoughts on using options in your trading strategy?