Do You Always have Plan B?

[mahmood]

Always we do the trading in Forex according to some trading plan and by following a strategy but sometimes due to the volatility of the market situation may go otherwise in that particular time to be readjusted with the situation it is always better to have a plan B.

[bestlooser]

yes it is just common sense then only a single plan can not work in all kind of different situations and this is where as a trader you have to be fully prepared and make many plans you want there is no limitation and just be ready and prepare yourself and always think about different plans and keep on thinking about different situations and have nice dreams.

[talebdpmg]

Yes friends, I also think every trader should have a plan B that is alternative plan when the mail plan faces the loss. Then alternative plan can be used to minimize the losses.

[fortuna]

I don't really like to hedge as I find that it locks your capital up in both position when you can be at the sideline waiting for opportunities to appear. I would close my trade instead if I found out that the trend is not in my favour. Hedge is only useful when you are managing a large sum of money and you can't close your position.

[asadkayani345]

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.

that is very good idea which you have planned because hedging is very good thing in trading yeh ap ko aik lambay and baray loss se bchati he or ap k acount ko band kar deti he ap jab munasib samjhein to is ko open kar dein to ap ko aik acha profit a sakta he

[sharabela]

I have a plan B too. As we all know Forex market is very uncertain, so we have to have our plan B ready. This is how we can manage our money better. Hedging is a good option to be a plan B.

[nowsha]

I am assuming that it is e'er great and helpful to hold an alternative counsel righteous in somebody our front plan fails to work. More traders do not yet pain most organization B seeing that making intend A is often very provocative and laborious.

[isbhacker]

i think you are saying that open an opposite trade or hedge.Both are not good in my view for hedging we have to pay spreads and our working capital is also used and for other it is also not good.

[joe12]

having plan b is needed for you to decrease the loss of your profit. Using this minimize your loss and giving you knowldege in doing this business

[edmar6969]

Every trader should have a trading plan B, so that when plan A failed we can immediately apply plan B.
If we don't have a backup plan, our account may got margin call when there is some error or mistake in our analysis.