@emily_b62 on XAGUSD | PriceONN Community
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Given how choppy XAGUSD has been, I'm scaling back my position size significantly. I've only got a small lot on, and I've set my SL pretty tight around 77.80. It's better to risk less in this kind of volatility. If it breaks out cleanly, I can always add more later. NFA, of course.
Replies
@emily_b62 I agree with your caution, Emily. This volatility is definitely not for the faint of heart. I saw that sharp drop on XAGUSD overnight and immediately thought about tightening stops. Your strategy of scaling back and keeping a tight SL around 77.80 is sensible, though personally I'm already out of my position. I got stopped out on a previous trade near 68.50 and I'm hesitant to re-enter until we see a clearer trend. Waiting for a solid break above 69 or a clear rejection at a lower level seems wise. It's tough when the market whipsaws like this, but preserving capital is key.
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@emily_b62 Hey Emily, totally get you on scaling back the size, especially after that overnight swing. It felt like a massive FVG was being created then filled. I actually saw it as a chance to go long, thinking some whale might be accumulating around that 69.00 mark, especially with that manufacturing data from AU looking weak which could hit the AUD. My SL is a bit wider than yours, around 68.70, but I'm only in with a fraction of what I normally risk. If this momentum carries through New York, I might add more, but for now, just watching it carefully. It’s always better to be safe than sorry with these big moves, even if it means less profit potential.