Do You Always have Plan B?

bhai mera bes plan A hi hey or usi ko hi follow kerta hun or dusray kisi or ko nehi kunki ek hi plan mein ney rekha hun hey or wohi mujh ko faida dey reha hey or mein kafi khush hun apnay plan sey is mein mujhey kafi faida hey

It is good in my opinion and you must have plan B as every time things will not go according to you and some times you need to have plan B.

Yes off course we should always have a plan b. Suppose if your trade goes wrong you should know properly where you ought to exit. you should have a proper tp and sl placed in your running trade. You should go through money management sections of this forum to learn more on how to save your capital.

Well its not like that.I some times have a plan B but i think i trust my plan A so i never give much attention to plan B but sometimes it looked liked it is very compulsory to have a standby plan or strategy if you want to make your trade successful.

A trader needs to trade with his basic and main strategy most of the times which can be called Plan A in this case but due to risky nature of these markets and unpredictable attitude of these markets it is important to have a contingency plan which can be Plan B in this case

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Originally Posted by shahzad0able

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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g haan main b plan use karta hun lekin hamesha nai karta hun kio k hamesha agar ap ko isay use karnay ka koi faida nai ho sakta he balkay is ko achay moqay par hi use karna chahiyay jahan is ko jaroorat ho.

i make the trades with the full concentration and then making sure that i have things under control but i have the rescue plan in mind for the trades. for example if i have a big risk trade and then i goes wrong then i have to hedge it at an appropriate point

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Originally Posted by tarek

hi everybody,

in my view, If we have plan B. Then we should always move to plan B. Its better to analyze the faults in plan A if we fail in that. We should always upgrade our strategy not to find another one. That strategy should suits.
good luck :)

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Of course if we have a plan B, we should not hesitate to use it in forex trading business. This plan B would help a forex exchange trader to become a better forex trader an save them many blushes of losses.

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?

I do not always have a plan B because most of the times i have the trade either to hit the stop loss or the take profit. Thus, for me i try maximum to execute a single trade and be along with it until i have seen some result from it. Changing the plans frequently is of no use, and moreover it will only lead to further confusion.