What is the plan B in the trading ?
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    Lightbulb What is the plan B in the trading ?

    I hear form the mostly professional traders when they talk about the plan B, i want to know what is the plan B in the trading and what is the advantage of the Plan B in the trading and how they work in the trading .please share your opinion ?

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    Plan B can be seen as an option just in case you lose an entry ,let's say you place a buy entry in the eurusd and hope that your entry gives you profit and if it doesn't your plan B would be either to hedge your position when the price goes against you at a certain level or you place a sell order on the audusd,so plan b is nothing else but an alternative to an entry.

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    Rookie martyn's Avatar
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    Plan B in forex trading is a trading plan that will be used when the market moves beyond our expectations. Usually the plan B will be used when we're get a loss, and we need to make a solution to minimize the loss or change these conditions into profit.

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    I dont have plan b, i always do trade with my plan a , changing of plan will never be helpful for us in our forex trading. We must have to used one plan all the time. It will help us in maximizing the profits and minimizing the loss in forex trading market so good plan is essential for us.

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    well as for me i dont have a plan b,plan is for trader that trade the market from lower time frame like 1hrs below,i only trade the market from daily or weekly chart,so i dont worry much about plan b when trading becasue i only trade on 5 or 1 candlestick and i can always tell what kinda candle am expecting when trading,traders that trade the market from lower time frame aim for plan b

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    There is must be PLAN A of every forex trader. Plan b is used by those traders who always have doubt for entering a trade. A good trader should have one trading plan which he is using all the time in his trading and that plan will surely gives more money and reducing our loss in our trades so we all go for one plan and it should be made by proper learning of forex market.

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    Their is no thumb rule fro plan B in Forex, it is totally the money management skills and strategy of he trader.
    Suppose you create any position never use all of your margin available, keep some balance with you so if necessary you can do average for quick exit or can hedge or can create another currency pair etc. All those are part of plan B.
    So you make your own plan B according to your margin available, profit want and loss can take.

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    Every human being needs to make backup plan for the achievement of goals or aim.Mostly every kind of organization are established with specific mission or strategy for which the manager or leader direct an organizational resources and human efforts to successful achievement of them.For the achievement of any goal the manager must study the opportunities which consists swot analysis-study of strength,weakness,opportunities and threats.

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    If you place a buy entry in the eurusd and hope that your entry gives you profit and if it doesn't your plan B would be either to hedge your position when the price goes against you at a certain level or you place a sell order on the audusd,so plan b is nothing else but an alternative to an entry

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    Quote Originally Posted by uchexxx View Post
    Plan B can be seen as an option just in case you lose an entry ,let's say you place a buy entry in the eurusd and hope that your entry gives you profit and if it doesn't your plan B would be either to hedge your position when the price goes against you at a certain level or you place a sell order on the audusd,so plan b is nothing else but an alternative to an entry.
    I agree with you that plan B is nothing else but an alternative entry. We need to trade both the plan A and B. If we failed to get profit in Plan A, then we can try to trade with plan B also. But we need to judge it with our own skill and experience before trading both the plan A and B.

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