Scaling in/out strategies vs. fixed position sizing
I'm still trying to get a handle on optimal position sizing, and I see a lot of talk about scaling into positions, or taking partial profits. My current approach is mostly fixed position sizes based on my risk per trade. For those who scale in or out, how do you manage the changing risk profile and your overall exposure? Is it primarily about conviction, or more about price action at specific levels after your initial entry?
I've found scaling in to be quite effective, particularly when dealing with higher timeframes or volatile assets. For me, it's less about conviction and more about managing entry risk and optimizing the average price, especially when dealing with a range or potential false breakouts. How do you adjust your stop loss when scaling in?