I'm risking [X%] of my trading capital on this trade. My stop loss is placed above a recent swing high to limit potential losses in case the trade goes against me. I'll consider scaling out of the position or trailing my stop loss as the trade progresses in my favor. Trade Update:
I'll provide updates on the trade as it develops, including any adjustments to the stop loss or take profit levels. Disclaimer: This is not financial advice. Always do your own research before making any trading decisions. Trading carries risks, and it's possible to lose more than your initial investment.