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Question about scaling out of positions on $EURUSD
Been looking at how some of you manage positions on $EURUSD, especially when price hits a key level but doesn't immediately reverse or accelerate. Say you're in a long, and price reaches a prior swing high. You're profitable, but momentum isn't screaming. Do you typically scale out a portion there, or just move stop to breakeven and let the rest ride? I've been just moving to BE, but sometimes I give back too much profit if it consolidates for a while then reverses. Wondering if scaling out is the more disciplined approach for taking some risk off the table and locking in a bit, even if the trade could still go further. What's your usual play in that scenario?
1 comments · 1 points
It really depends on the daily context and overall market sentiment for EURUSD at that moment. Sometimes taking a partial profit makes sense if you anticipate consolidation, other times letting it run with a moved stop can yield a larger gain if the move has legs.