What would you do if the risk amount for a trade is higher than what your trading plan states? Would you try and enter at a price that reduces your risk or will you pass the trade?

Algos, strategies, code
1

Example your strategy says sell NIFTY at 8288, with SL at 8381, however that would mean your risk is 93 points which in rupee terms is higher than your defined risk.

2

If you are disciplined and you are trading based on a backtested system, I guess you have to pass the trade. Markets keep giving you opportunities, the idea is to be disciplined. You let go, many more will come along your way.

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3

Skipping it when the risk is higher than your plan is understandable and perfectly fine. But what if during the course of the trading day the price reaches a point wherein if you enter then the risk is within your plan (SL still remains the same as it was when the risk was higher). Would you then enter the trade or still skip it?