Do You Always have Plan B?

[aina]

As we all know that there is certain limit to the trades in terms of the stop loss and this stop loss is the main indicator of the reversal in the trends so the plan B is to be the other way around after the stop loss.

[ahmedi]

Yes I have a plan B, which has a different meaning as business strategy goes wrong or there are certain market conditions or the time when tension is clear.So trader must have another plan in mind.For using the fence in case of bad business or a state of uncertainty of the market.

yes sure and many traders will have a total profit or loss level for the day. When they reach either one, they'll quit for the day. If you use bad system like keep in failure and you hit the maximum loss, then you should quit

[Ksal33m]

Yes I have a plan B, which has a different meaning as business strategy goes wrong or there are certain market conditions or the time when tension is clear.So trader must have another plan in mind.For using the fence in case of bad business or a state of uncertainty of the market.

[antosco]

Your plan B is good. Hedging is a good style of trading forex, since the market only moves either upwards or downwards, it means if the market went against our initial movement assuming upwards we would open a downward movement to take profit when the market finally favours our initial direction.

[Mohona]

Plan B is not right strategy if you are a beginner . After all Plan B is helpful for stop loss and hedging if you can use this plan properly. If my own plan is not working unluckily then i use hedging and i can control my loss .

[joru]

It is good idea that we should be prepared for worst situation, it happen many times that my trades are in loss so neither i can close those nor i can open new trades to cover losses due to lesser margin, for such situations i am ready with another account and even if my account is stuck on getting another good opportunity i use the second account to reap profits.

[mehedi islam]

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.

i am totally agreeing with you view! hedging is not good strategy for the beginners as they think hedge as a profiting strategy. but hedging is actually loss reducing strategy not a profit making strategy. though it might give profit to someone if he has very good idea on market movement that is price action.

[incredibleindia]

It is always important and helpful to have an alternative plan just in case our first plan fails to work. Many traders do not even bother about plan B seeing that making plan A is often very challenging and laborious.

[terajana]

Plan B will probably give us another chance to get a lot of profit, and certainly will be needed if the primary plan we have does not work well because a lot of things .. mainly because the market situation will continue to change in a rapidly ..

[taqiniazi]

No i don't like plane B. according to me Hedge is not profitable strategy. i think you just open one trade and can't make the opposite one . because in hedge the profit and loss is equal..