Do You Always have Plan B?

[muhammadatif]

Yes I have always plan B because plan B is more strategic by using stop loss option, this option helps you to protect yourself from a big loss.

[forexprophet]

If I have a plan B, it simply means that my plan A is unreliable. I think having no plan B is he best way to make that your Plan A gives you the most profits. If you have a plan B, then you will just be waiting for your initial strategy to fail so that you can resort to the better one. Let us think about it. It becomes obvious that the backup strategy must be better than the initial one before it can help us make profits where the first one fails. The question then is why keep the more profitable strategy and trade with the bad one?

Nicely said, aadrika. There is no plan B in trading because everything you want to do or every action you need to take should have its place in Plan A itself. Dont ever think that the market will give you enough time to perform your plan B when your plan A tumbles. Your plan A should have an entry, exit, stop loss, Take profit, rr ratio, hedging if necessary, and most importantly money management.

[aadrika]

If I have a plan B, it simply means that my plan A is unreliable. I think having no plan B is he best way to make that your Plan A gives you the most profits. If you have a plan B, then you will just be waiting for your initial strategy to fail so that you can resort to the better one. Let us think about it. It becomes obvious that the backup strategy must be better than the initial one before it can help us make profits where the first one fails. The question then is why keep the more profitable strategy and trade with the bad one?

[anubhavsingh]

It is always better to have a plan B in place as these markets are unpredictable and risky and some times not even the best of strategies work in these kinds of market so a plan B can always reduce the risks.

me hamesha to nahi lekin zadatar 2-3 plans ko ek stah leke chalta hon..kayi bar situation aisi hoti hai ki koi aur plan nahi smajh me ata lekin me koshish karta hon ki jab bhi tarde karu , ek sath 2-3 plans leke hi tarde karu taki agar meri pehle wali strategy bekar ho jaey to me aur bhi kuch karke usko barabar akr saku..har tarder ko ye baat sekehni chahiye

[shinde]

I think is okay to use a strategy that both origins are also in accordance with good analytical ability and we have learned the test..
good luck

[shinde]

It is always better to have a plan B in place as these markets are unpredictable and risky and some times not even the best of strategies work in these kinds of market so a plan B can always reduce the risks.

[shinde]

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.

[jadhav]

I don't believe in going with plan B or many plans. I target on only one plan and work hard to make it success. It is good to just to focus on one plan rather than making more plans and wasting time and efforts on them. I go with certain plan and if that plan does not work, the only plan that I take or believe in is closing the position.

[bigearners]

waise sabhi trader ko koi na koi plan B toh rakhna chahiye agar kisi trade mein loss ho gaya ya ho raha hai toh....Plan B mein jata tar main scalping use karke apne loss ko cover kar leta hun aur phir jab loss cover ho jaate hain toh wapas plan mein aa jata hun.

[furiya]

you are right my friend,before i did it, i have to wait for good moment with compare all stochastic at smaller to higher,we must be confident with this strategy,I used it when the chart move back and that is the best time for it,and i always get it well...
can you please share me here, what will you do if you were in this position...?so i can make your opinion as my good consideration
thank you very much