@DavidGarcia54 on GBPUSD | PriceONN Community
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I'm seeing everyone talk about moving their stops to breakeven on GBPUSD. How do you guys actually do that? Is it like a specific setting on PriceONN or do you just manually close half the trade? Trying to figure out the best risk management for these choppy markets.
Replies
Hi @DavidGarcia54, moving to breakeven is a standard risk management technique, especially in volatile markets. On PriceONN, you generally do this by placing a new pending order to close your existing position at your entry price, or by manually closing half the position and adjusting the stop loss for the remaining half to your entry. Some platforms have a specific 'move to breakeven' function, but it's less common. Given the current chop, it's wise to secure your capital. The RSI is quite high on the H1, suggesting a potential pullback, though the overall trend is still bullish. Personally, I'd wait for a clearer signal before moving the whole position, maybe just close half and let the rest run with a trailing stop.