Do You Always have Plan B?

[yogesh]

I dont follow hedging offen but to reduce my losses and increasing winning chances i open small trades and even my trade goes in loss i open other trades i keep doing so on some intervals, when some trades start showing descent profit i start closing those trades ... so i just follow buying at lower levels and selling on higher, simple that is what we can earn from.

[nikhil]

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.

[nikhil]

ji aap nay bilkul sahi kaha, forex trading may plan B ka hona bht zarori hay, baaz traders aesa bhi kertay hain kay agr on ko kisi aik khaas pair may loss ka samna ho to wo foran os pair kay against koi or pair jis ki movement pehlay walay kay opposite ho, os per bhi aik position open ker laytay hain, iss tarah ye onka plan B sabit hota hay.

[nikhil]

Yes this can be a great Plan B "money backup". Like its always said don't invest all you have in forex, keep something for backup and that backup I think can't be better than keeping some amount as backup.

[bestlooser]

@kamla and this is what is money management and you must have full plan that how much to buy and sell and how much funds you have to use? and how much you have to keep on back up and what to do in different situations as you can have as many plans you want. if one fails what to do then? so planning is importnat.,

[kamla]

Yes this can be a great Plan B "money backup". Like its always said don't invest all you have in forex, keep something for backup and that backup I think can't be better than keeping some amount as backup.

[kamla]

ji aap nay bilkul sahi kaha, forex trading may plan B ka hona bht zarori hay, baaz traders aesa bhi kertay hain kay agr on ko kisi aik khaas pair may loss ka samna ho to wo foran os pair kay against koi or pair jis ki movement pehlay walay kay opposite ho, os per bhi aik position open ker laytay hain, iss tarah ye onka plan B sabit hota hay.

[kamla]

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.

[zoomfire]

I think that we should always be perfect on our decision. If this happens, then there is no worry about plan b. But, according to forex market, anything may happens in future. So, its better to have plan b in forex trading to avoid some sorrows.

yes, you are right,but nothing can be done after we open a trade in market.We can delete the order or modify TP SL values.Maybe we should think of some back up plan if our money is lost in forex.

[jabrik1991]

If your plan B is to wait for the markets and trade when you see clear signals then I want to ask you what is your Plan A ? do you trade any time and every time ? I think you should trade with Plan B then.

A plan consistent position remains at the beginning of our transaction. then in a visible indicator of the movement signal is already at saturation point, I think I started off point A and then I open a transaction for plan B.