Revenge trading

I had a similar problem to revenge trading because I did not use a stop loss. I held a trade open but when it turned red I did not close it I kept it open hoping that it would go green. It never did and wiped out my account. I had take a month off after that to reset. i use stop loss now

Rohtas posted:
I had a similar problem to revenge trading because I did not use a stop loss. I held a trade open but when it turned red I did not close it I kept it open hoping that it would go green. It never did and wiped out my account. I had take a month off after that to reset. i use stop loss now

Well you broke all the rules of trading so results corresponds to that.
Try to do it opposite next time, close trade when it is red but keep it open once it is green
As result you should see some profit

Imamul posted:
Revenge trading is the foremost symptom of emotions which is mainly considered the reason for losing in Forex. We have to control this common human nature by proper trading discipline. But cannot remove completely at all.

What is revenge trading?

Suppose; you got a SL by a sell trade then open a buy trade immediately without market study!

Revenge trading occurs mainly by the fear of being wrong. It happens when a trader decides to trade even more aggressively in his/her next trades because of losses he has been incurring.

jaredtaylor posted:
Revenge trading occurs mainly by the fear of being wrong. It happens when a trader decides to trade even more aggressively in his/her next trades because of losses he has been incurring.

Anger; & lack of trading knowledge! Basically it’s a very common problem by the new traders!

Madalyn posted:

Imamul posted:
Revenge trading is the foremost symptom of emotions which is mainly considered the reason for losing in Forex. We have to control this common human nature by proper trading discipline. But cannot remove completely at all.

What is revenge trading?

Revenge trading is when your emotions start guiding your trading such as when you've experienced a number of losses and you're angry. Then you decide you're going to suddenly win it all back with yet another trade that you shouldn't be opening, and say for example you make this new trade an absurd size so you can instantly win back all your losses. The reality is that you are probably going to blow the account out because you aren't trading using a realistic strategy.

Emotional control, risk management, and automation when possible will help discourage revenge trading.

Automation is a great way to stop revenge trading. It takes the man out of the problem. No emotions for computer code.

Professional4X posted:

Madalyn posted:

Imamul posted:
Revenge trading is the foremost symptom of emotions which is mainly considered the reason for losing in Forex. We have to control this common human nature by proper trading discipline. But cannot remove completely at all.

What is revenge trading?

Revenge trading is when your emotions start guiding your trading such as when you've experienced a number of losses and you're angry. Then you decide you're going to suddenly win it all back with yet another trade that you shouldn't be opening, and say for example you make this new trade an absurd size so you can instantly win back all your losses. The reality is that you are probably going to blow the account out because you aren't trading using a realistic strategy.

Emotional control, risk management, and automation when possible will help discourage revenge trading.

thank you

Madalyn posted:

Professional4X posted:

Madalyn posted:

Imamul posted:
Revenge trading is the foremost symptom of emotions which is mainly considered the reason for losing in Forex. We have to control this common human nature by proper trading discipline. But cannot remove completely at all.

What is revenge trading?

Revenge trading is when your emotions start guiding your trading such as when you've experienced a number of losses and you're angry. Then you decide you're going to suddenly win it all back with yet another trade that you shouldn't be opening, and say for example you make this new trade an absurd size so you can instantly win back all your losses. The reality is that you are probably going to blow the account out because you aren't trading using a realistic strategy.

Emotional control, risk management, and automation when possible will help discourage revenge trading.

thank you

You're welcome.

revenge trading always make huge loss. You have to follow a trading plan or system with discipline, otherwise you aren’t allowing your edge to work for you. Without this then any form of trading in this regard is simply gambling. Since it can’t be reproduced reliability.

Imamul posted:
revenge trading always make huge loss. You have to follow a trading plan or system with discipline, otherwise you aren’t allowing your edge to work for you. Without this then any form of trading in this regard is simply gambling. Since it can’t be reproduced reliability.

Exactly. Even if your 'revenge trades' work once, twice or even more, it's just a sign that your overall strategy is not working at all and that it will eventually go bust.

not a good idea, need to accept that losses are part of trading.

Trading should be alway performed according to trading plan. I doubt any trading plan contains section Revenge:)
On the other hand we are human being so I understand very well the need to do the revenge. I did it too once :)

togr posted:
Trading should be alway performed according to trading plan. I doubt any trading plan contains section Revenge:)
On the other hand we are human being so I understand very well the need to do the revenge. I did it too once :)

Can relate well to you, no matter how much we stop ourselves from doing that type of things, this field is only such, one ends up taking revenge :) But yes, I make sure I avoid it most of the times.

this is why i prefer automated trading

togr posted:
Trading should be alway performed according to trading plan. I doubt any trading plan contains section Revenge:)
On the other hand we are human being so I understand very well the need to do the revenge. I did it too once :)

I think almost every trader would have done revenge trading at least once in his/her trading career.

Keeping emotions in control is a must

I used to think revenge was a dish best served cold... then I learned it meant getting back at somebody...