Do You Always have Plan B?

yes i do and the plan "B" for me is just to convince with what happen to my account and keep trade with the same strategy i think that this is the best way for us to get success ibn teh forex market

in forex trade I do not like doing hadging,I prefer to close the trade if I am convinced that my initial prediction is totally wrong.but I have two accounts and if I doubt the first prediction and did not get a strong signal after the first of my predictions wrong, then I open the position again in my other account in the opposite direction.This I do because I do not like being in a floating position for too long....

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Originally Posted by shahzad0able

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.

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plan B in forex does not enough you can make a plans from A to Z and it will be not enough because forex have a lot of prospect and you can lose in all the plans that you do.

since i know that market has it own kinds of movement, i'm already making several type of EA that can be run alternately, so when the market moves sideways, it's time to use martingale system, when the market going to be a trending, using a scalping is the right option, and so on, each moment has it's own plan. so i guess i'm not only having plan b right?

योजना ख बंद करो हानि और कम से कम आप एक बहुत बड़ा नुकसान बनाने की संभावना से बचने कर सकते हैं इन के साथ हेजिंग coz की मदद के साथ एक बहुत ही strategised योजना जा सकता है, मैं भी उपयोग sl अब हर और im बहुत संतुष्ट और भी इसे थोड़ा सा आराम coz जबकि व्यापार.

मैं योजना बी नहीं है, जबकि मैं व्यापार. समय के अधिकांश मैं खाते की शेष राशि का प्रबंधन करने में सक्षम नहीं हूँ. यदि खाते की शेष राशि वहाँ नहीं किया जाएगा तो जो आप के लिए योजना बी योजना b बहुत अच्छा विचार है मुझे यह पसंद है है लागू होगा. मैं यह अगली बार में सोचना होगा.

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Originally Posted by Ganesh

plan b can be a very strategised plan with the help of stop loss and hedging coz with these you can atleast avoid chances of making a huge loss, i also use sl now everytime and i m pretty satisfied and also a bit relaxed coz of it while trading.

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yes you are right i think that the plan b for me is just the hedge i mean that when i open deal and i am going to lose i open the hedge of the deal and wait till the next good signale ..here i will close the bad deal and let the other till recover all the lost

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Originally Posted by Grandhis

I dont have back up plan when I was in the forex loss. I just had to stop a while and stay away from forex, to refresh my mind. My way to cover the loss usually stops trading, because if the mind is stressed, open positions are not good.

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me hamesha koshish karta hon ki plan B leke chalu kyunki forex market me kab trend badal jaye ye pata lagana bahut mushkil ho jata hai..isliye har trader ko salah di jati hai ki usse plan B leke bhi chalna chahaiye taki agar trend uski study se alag jata hai to bhi wo kuch na kuch karke apna loss kam se kam akr sake aur profit bada sake

It does not matter what kind of plans, as long as they plan written and well thought out carefully. There are a lot of plans that you can use ready-made, or you can put your plan. But make sure to try the plan in a default account before you spend real money in it. Do not try and plan for a week or two weeks only and then you do adoption.

yes, you are right,but nothing can be done after we open a trade in market.We can delete the order or modify TP SL values.Maybe we should think of some back up plan if our money is lost in forex.