@LilyH84 on ETHUSD | PriceONN Community
I am currently watching ETHUSD during this Asian session. Given that I am a beginner, I am trying to be very cautious with my position sizing. I have decided to allocate only 0.5% of my total capital to any single trade. This small allocation feels safer while I am still learning the nuances of this market.
Replies
Hi @LilyH84, it's smart to start with such small position sizes. That's definitely the responsible approach for beginners. I remember when I first started out, I was way too aggressive and learned some hard lessons. Regarding your risk management, 0.5% per trade is a solid foundation. Have you considered incorporating stop-losses on every trade? It's crucial for protecting your capital, even with small allocations. We're seeing ETHUSD hovering around the 2150 mark right now, and the 20-period SMA is very close to that level. Watching how price reacts to the daily pivot at 2144.99 and the R1 at 2149.48 could offer some insight into short-term direction. Keep focusing on learning and risk control!