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.
Not heard of revenge trading, what is it?
Mar 08 2019 at 08:08
Revenge trading works like this
https://www.myfxbook.com/members/togr/revenge/1143440/4LxpKXSV9AwnXNd12HuU
https://www.myfxbook.com/members/togr/revenge/1143440/4LxpKXSV9AwnXNd12HuU
Luckily I never do it, each loss is a learning.
harryPIPS posted:
Not heard of revenge trading, what is it?
'I need to get it back. Now!' - style of mentality. After losing a big chunk of money a strong need of winning lost money back. Increasing lot size considerably. Related to the martingale strategy. Sometimes works but most often not. Results to even more losses.
togr posted:
Revenge trading works like this
https://www.myfxbook.com/members/togr/revenge/1143440/4LxpKXSV9AwnXNd12HuU
I appreciate that, thanks.
Don't do it, get up if you want revenge a go for along walk
When you are facing consistent SL; just close your chart & take a short break! Best medicine for revenge trading.
Mar 12 2019 at 07:32
It is about NOT being addictive.
Just get your money back and stop.
Just get your money back and stop.
togr posted:
It is about NOT being addictive.
Just get your money back and stop.
I think; after losing a huge amount traders need to allow a short break; minimum 1 hour.
Mar 26 2019 at 10:44
AniLorak posted:togr posted:
It is about NOT being addictive.
Just get your money back and stop.
I think; after losing a huge amount traders need to allow a short break; minimum 1 hour.
Or even a week
niceGLer posted:harryPIPS posted:
Not heard of revenge trading, what is it?
'I need to get it back. Now!' - style of mentality. After losing a big chunk of money a strong need of winning lost money back. Increasing lot size considerably. Related to the martingale strategy. Sometimes works but most often not. Results to even more losses.
I did it :) One 1-3 months work given back overnight :-/ Fortunately, it is no more than a dinner at a restaurant, but shred me into pieces.
I'm annoyed to GBP and Brexit altogether. GBP has a strong tendency for whipsaws.
To enter Forex market is so much easy. With little amount you can kick off trading at any place. But the main deal is surviving that is really difficult. Because this market is too much volatile and no one can predict the real faction of this market with surely. so we have to pass a long time in here , if we want to get maximal result from here.
Imamul posted:
To enter Forex market is so much easy. With little amount you can kick off trading at any place. But the main deal is surviving that is really difficult. Because this market is too much volatile and no one can predict the real faction of this market with surely. so we have to pass a long time in here , if we want to get maximal result from here.
Of course; that’s the real challenge! There is no shortcut way of success in Forex! Basically, which traders try to make quick money in Forex, they lose their full capital of trading account.
In Revenge trading instead of applying logic you trade according to your emotions. There is an urge within to win back all the money from the same market where you lost it.It just makes you blind to other trading opportunities. In order to avoid losses you can re frame or may be apply the strategies in a different manner. Write down the reasons(on spreadsheet or any doc) to analyze the things.If you feel stressed just simply walk out of that room maybe or talk to somebody so that you don't think about the disaster that has just happened.
There are many forms of revenge trading, but in all of them there are negative emotions involved and high intend to recoup loses, often trying to trade the same market again and again, with higher leverage. This is the most dangerous part because it removes all the precautions against disaster and very often revenge trading lead to total account lost or at least very big damage. What is the main drive in this case is dopamine rush and if you don't get it immediately than chances of getting worse and worse are getting higher.
Best thing to do, is to identify these feelings on time, stop all trading, get out, take fresh air and avoid thinking of trading at least for few hours, better for the whole day.
Best thing to do, is to identify these feelings on time, stop all trading, get out, take fresh air and avoid thinking of trading at least for few hours, better for the whole day.
Nikolas88 posted:
There are many forms of revenge trading, but in all of them there are negative emotions involved and high intend to recoup loses, often trying to trade the same market again and again, with higher leverage. This is the most dangerous part because it removes all the precautions against disaster and very often revenge trading lead to total account lost or at least very big damage. What is the main drive in this case is dopamine rush and if you don't get it immediately than chances of getting worse and worse are getting higher.
Best thing to do, is to identify these feelings on time, stop all trading, get out, take fresh air and avoid thinking of trading at least for few hours, better for the whole day.
Good point; but when I face consistent SL in my trading; I immediately close my trading chart! And take a decent break!
Aug 05 2019 at 09:07
Never let emotions take the place of logic while trading, for this revenge trading can put you in a fix. Just clear your head of all the losses you have made and take a break for sometime. This would help you to start afresh later. Make your risk management safer and stronger and pick stocks that fit well in your trading plan.
I find that meditation before trading helps clear my mind and focus. This helps with revenge trading. If I have a bad trade and feel the temptation I then meditate for 10 minutes to clear my head and my emotions
Revenge trading is when a trader suffers significant loss and in the expectation of wiping out loss , he jumps back to trading again . In this attempt , they will either add up to their losses or make significant money out of the new trades placed.
Revenge trading is very risky as i once incurred a loss of 500$ and ended up losing 950$ by the end of the day out of this revenge feeling. So , i would really recommend traders to think thrice befo9re they do something like this.
Traders should rather sit back and revisit their trading strategy to find where they went wrong instead of rushing up and mounting the number of losses.
Revenge trading is very risky as i once incurred a loss of 500$ and ended up losing 950$ by the end of the day out of this revenge feeling. So , i would really recommend traders to think thrice befo9re they do something like this.
Traders should rather sit back and revisit their trading strategy to find where they went wrong instead of rushing up and mounting the number of losses.
