Do You Always have Plan B?

[ketan]

Yes I do have a plan B which means a different strategy in case a trade goes wrong or there are uncertain market conditions or during times when trend is not clear.So a trader should have another plan in mind in case of an emergency.For example one can use Hedging in case of a bad trade or uncertain market conditions.

[shahzad0able]

no i dont have any b plan, i just wait for my price to come back and if i got margin call then i make new account and start again ,never give up baby

Looks like you are a millionaire already you wait for your price to come back, till when ? and if you got margin call you make new account ? why. My dear always use stop loss, it will save the rest of your account balance and risk only some percentage of you account. Remember getting margin call will blow you account and you will lose everything but by setting a stop loss will give you a chance to return back with the remaining account balance.

[netra]

If you are a beginner, hedging is not the right strategy for you as you might not be able to handle your hedge trades properly and facing loss more than profit. It is a very yielding strategy for those who have good experience of market price action.

[akshayfuriya]

no i dont have any b plan, i just wait for my price to come back and if i got margin call then i make new account and start again ,never give up baby

[netra]

Hedging ak achi strategy hy but ic ko apply krny sy phly market ki situation ko dykhna prta hy, agr tu apko clear idea ho jaye k trend ab change ho raha hy tu apko chahye apni open position ko close kr k trend ki direction mn new position ko open kren but agr aisa nhi hy tu hedging apply krny main koi problem nhi hy, you can get some extra pips by doing this.

[sachin]

main waity karta hoon jab tak mera position mujhe profit nahi dete , chahye kitna bhi time kyu na ho 1 week, 1 month ya phir 1 saal

[mayengbam]

If your positions go wrong, the best thing to do is close it,

setting a sl in every position we open is vital to limit the loses

AND NEVER HOLD ON TO A LOSING POSITION

Regarding hedging, never attempt to use it when your equity is low, it is nothing but inviting MC. Its a complex method and requires good knowledge

[sanjeev]

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.

ha bhai main bhi hedging karta hu agar mera position mere against chale jaaya, so isme tension nahi hota hai margin call ka

[nsawork]

I have plan B but it is normal part of the system.
It works good on bigger accounts where I can plase enough number of another positions.
But its not very effective for small accounts where cant place enough orders.

My plan B is to wait for the markets and then trade only when the trend is clear and we are able to see the signals. This is so because we cannot risk of loosing all the capital that we have with us at anytime.

The best thing to do is that we make sure that our backup plan is executed when we make some loss from the Forex markets and thus become ready for the future.

[realfun07]

Yes I do have a plan B which means a different strategy in case a trade goes wrong or there are uncertain market conditions or during times when trend is not clear.So a trader should have another plan in mind in case of an emergency.For example one can use Hedging in case of a bad trade or uncertain market conditions.