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There is no way to take revenge

Marcel Durham (MarcellusLux)
Sep 15 at 09:31
92 příspěvků
marindateal posted:
@Marcel Durham I am with you on this. I feel that's what separates experienced traders from newbies and most importantly revenge trading has never benefited anyone in the trading market. I think instead of going forward with such a strategy a trader should call it a day and focus on his mistakes he made while making such trades. Such traders should not let their emotions take control over their decisions, rather they should work on their strategies and make a proper plan of action.


Correctly said. Revenge after losses without analysis is destructive. Correcting mistakes and introspection is just as important as trading system.

Marcel Durham (MarcellusLux)
Sep 15 at 09:39
92 příspěvků
AliaDare posted:
MarcellusLux posted:
So actually revenge for what? Only the trader is to blame for his mistakes and miscalculations.

Human emotion works here. When a trader loses in the market, he wants to give up his sense of responsibility and take revenge on the market and bring back the lost money.

Yes, the nature of human emotions is sometimes illogical.
Even in any other situation, no one wants to accept responsibility. This requires fortitude. That is why working with your own consciousness is an integral stage in the development of a professional trader.

lovefortrading (perryjohn765)
Sep 15 at 11:18
238 příspěvků
MarcellusLux posted:
marindateal posted:
@Marcel Durham I am with you on this. I feel that's what separates experienced traders from newbies and most importantly revenge trading has never benefited anyone in the trading market. I think instead of going forward with such a strategy a trader should call it a day and focus on his mistakes he made while making such trades. Such traders should not let their emotions take control over their decisions, rather they should work on their strategies and make a proper plan of action.


Correctly said. Revenge after losses without analysis is destructive. Correcting mistakes and introspection is just as important as trading system.

could not agree more. one needs to do the detailed study and research in order to come back stronger

AliaDare
Sep 16 at 00:00
666 příspěvků
MarcellusLux posted:
AliaDare posted:
MarcellusLux posted:
So actually revenge for what? Only the trader is to blame for his mistakes and miscalculations.

Human emotion works here. When a trader loses in the market, he wants to give up his sense of responsibility and take revenge on the market and bring back the lost money.

Yes, the nature of human emotions is sometimes illogical.
Even in any other situation, no one wants to accept responsibility. This requires fortitude. That is why working with your own consciousness is an integral stage in the development of a professional trader.

Of course, I need to work with the way professional traders think or have ideas about their mindset.

CraigMcG2020
Sep 17 at 06:55
158 příspěvků
UweMoench posted:
There is no way to take revenge on market. Forex market is not so easy to understand but one can easily adapted to the market by applying good skill and knowledge. If the traders want to take revenge over market, they surely face problem and it is not feature of a good trader.


Very true and the market does not care about you or me or anyone you are taking revenge on an objective thing. When you take a revenge trade-you make it personal-emotions come into play-loss of objectivity

marcusobrien
Sep 17 at 07:32
36 příspěvků
Revenge trading is the worst thing a trader can do to himself. Trying to overcome the losses through aggressive trading can only lead to further losses.

UweMoench
Sep 17 at 13:20
635 příspěvků
Revenge trading happens when a trader can not control his emotions. They want to recover the loss quickly. As a result they jump into another trade without much thinking.

marindateal
Sep 20 at 10:08
53 příspěvků
@MarcelDurham I feel there shouldn't be an urge to compete with the market . Traders need to understand that there can not always be a win-win situation for them. Once they hit the bottom it's better to take a break and not make the matter worse.

marindateal
Sep 20 at 10:15
53 příspěvků
@lovefortrading without a doubt. A thorough due diligence is very necessary to have a successful run in the market .It's the very basic need that traders need to understand.

Marcel Durham (MarcellusLux)
Sep 21 at 11:00
92 příspěvků
marindateal posted:
@MarcelDurham I feel there shouldn't be an urge to compete with the market . Traders need to understand that there can not always be a win-win situation for them. Once they hit the bottom it's better to take a break and not make the matter worse.


This is also a global problem to recognize a situation in which further actions will only harm. The main thing is to work with risks and their correct accounting in the trading system. Responsibility for losses comes when they are closed. Everyone knows this, and it is a strong negative emotional control.

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