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Question on dynamic position sizing for $EURUSD
Been trading $EURUSD for about six months now, mostly fixed percentage per trade. I'm wondering how some of you more experienced folks adjust your position sizing based on trade conviction or market conditions. For instance, if you have a strong setup on higher timeframes versus a quick scalping opportunity, do you vary your risk percentage? Or is it more about varying your stop loss distance to keep a fixed dollar risk? Just trying to refine my risk management.
1 comments · 5 points
Varying risk percentage based on conviction seems like a slippery slope; conviction is subjective. Better to standardize risk per trade and adjust stop loss based on the setup's volatility and target.