Do You Always have Plan B?

[Sabbirbd]

I have a plan B which means a different strategy in case a trade goes wrong and there are uncertain market conditions or during times when trend is not clear . but still i want to make more money from this site .

[shahinraj11@yahoo.com]

In every sector you have to plane b,and business sector every business man apply many plane so plane b u have to. Forex also ready to plane b because alternative plane always work.

[nterziev]

Mmm no i don't have any plans.When i start something i do in the same moment if something goes wrong i act in the moment to stop it.I'm a risk member and if i loose something i will take lesson and will not do it again

[mehedi islam]

Do You Always have Plan B?

I often wonder while trading if something goes wrong with my strategy there have to be something that is should adopt to lessened my losses. So, I've come up with this question that Do you guys (traders) have a plan b ?
I have a plan B and its called Hedging. I use it when my trades go against my plan A. It does not protect you from losses but it can maintain your loss at a certain level. You can think of many and select the one that suits you best. Share your plan B.

yeah hedging is very effective and recognized method to lessen loss. but we should use this method unless our position goes against our prediction. as it is a loss reducing method so it is also a part of our strategy. i often use this method when my position goes against me.

[penjualdolar]

I just make a plan for my trade and I do not make a plan b, although it would be better if we have a plan b to anticipate if a plan we have failed in our trade.

[Sabbirbd]

plan b can be a very strategist plan with the help of stop loss and hedging because with these you can at least avoid chances of making a huge loss , then come back from loss then u can make huge money in business .

[awaccoo]

I always prepare a plan B just in case if the market moves beyond what I expected and my original plan can not be run properly, and so far I think the it is still useful, though not always in use while my main plan goes well

[rakeshnikam]

i guess nobody in the beggining has a paln...but it gets developed by itself as the sixth sense...losses is wat tends u to go for a plan....itz always worth having a plan coz of the instability in the market....

[ernestina]

Strategies will always fail from time to time but that does not mean that such strategies are bad altogether. Having an alternative to our existing strategy is also not a guarantee that that strategy will not fail also. As traders in the forex market when you have a plan B or alternative strategy for trading always use it side by side alongside your existing strategy.

[shwaikich]

Of course I have always Plan B. I do not personally adopted the plan of the work of one currency must be found alternative work I have a plan in case of emergency