Revenge trading

Revenge trading is for the most part determined by the dread of being off-base. It's typically when a trader, originating from an especially baffling misfortune, chooses to compensate for it by being more forceful in his/her next trades. It's the worst thing one trader can do. If you loss any trade, before opening any more trades make yourself relaxed.

Definitely. If you lose a trade, it's important to cool your head before you make any new decisions. Meditate, or go for a run, do whatever you have to in order to get rid of the frustration and move on. It gets better with time, once you learn to trust your long-term profitability.

If you close the trade with a minus, there is nothing wrong with that. This is part of your job. This happens very often. The main thing is to close negative trades in accordance with your system. And accordingly, open new ones without risking. And after waiting for a good entry point.

Spend your time on learning. Running for ready-made strategies is not learning. Spend time on MT4 or trading terminals. Learn how to read the market. Study books not just some pages on internet or ebook. Read about successful traders. Learn how psychology works in trading. That's all.

Dariusz54t454 posted:
If you close the trade with a minus, there is nothing wrong with that. This is part of your job. This happens very often. The main thing is to close negative trades in accordance with your system. And accordingly, open new ones without risking. And after waiting for a good entry point.

Yes, you are right. Every trader should trade according to discipline.

Yea I’m looking to avoid doing this as much as I can, not a good road to go down.

UweMoench posted:
Revenge trading is for the most part determined by the dread of being off-base. It's typically when a trader, originating from an especially baffling misfortune, chooses to compensate for it by being more forceful in his/her next trades. It's the worst thing one trader can do. If you loss any trade, before opening any more trades make yourself relaxed.

A trader must control his/her nerves, This is not a race ring

Revenge trading should be avoid at all costs!

ddarko3 posted:
Revenge trading should be avoid at all costs!

Traders should also avoid all kind of trading based on emotion.

Trading definitely needs you to be in control of your emotions or your going to end up in trouble

dutchy1986 posted:
Trading definitely needs you to be in control of your emotions or your going to end up in trouble

That is why people tend to end up with revenge trading which makes the matter worsen.

I would say avoid revenge trading, control your emotions as many people do this to cover the loss of previous trade but again end with the loss. Just stick with the plan, have patience, wait for the right time to recover loss.

In my opinion, revenge trading is something that traders shoulbe afraid of, because it always leads to unpleasant consequences. Of course, you can give particular sums of money back, nevertheless it won't be a long-lasting situation. Finally, you will lose them and even more, trying to give something back. If you lost particular sum of money, then you have to take into consideration all your mistakes and make conclusions.
Never try to get back something that you lost, because nobody earned money by this scheme. Everybody lost even more.

Revenge Trading.

If you have a strategy which means discipline and you lose a couple of trades --------------so-------two lose trades = 1-2% OF your trading account

WTF

If your strategy gives your edge wins v losers in your favour.

And you react with REVENGE TRADING

your NOT prepared for Trading Live.

(get back on the Demo)

UweMoench posted:
Revenge trading is for the most part determined by the dread of being off-base. It's typically when a trader, originating from an especially baffling misfortune, chooses to compensate for it by being more forceful in his/her next trades. It's the worst thing one trader can do. If you loss any trade, before opening any more trades make yourself relaxed.

Traders must not even think about taking a revenge against the market. The market itself is a very big thing. If we want to play against it, it will play against harder and beat us mercilessly. When we make a loss, we must take it as a part of business. We may analyze and try to find out our mistakes later. Nevertheless, we should never take the next entry to cover up the previous loss, but take the next entry according to our strategy.

Most new traders lose money because of their revenge trading. If they lose a trade, they get restless to recover it. As a result they open more trades without proper set up .