What are your thoughts on revenge trading?

[dimonstration]

This is same idea on your revenge gambling thread that created at the same time with same question to a different subject. The data that you can gather here is almost identical to the gambling thread because trading is same risky activity as gambling. This already duplicate if the goal to get a discussion for the same purpose of goal.

[savetheFORUM]

Of recent, I've come across alot of people talking about traders chasing their losses which at the end, leads to possible blowing of accounts.

Trading is something that i believe that when you make a mistake in trading and you are serious not to fall into such kind of trading mistake you will not fall again. So it's not good for someone to be seriously to chase it lost in trading, so i will say that trading is not gambling whereby they most have known the exact thing the want with a strategies, because trading when you make a mistake and you are unable to identify the trading error and you also want so chase your Lost without knowing were the mistake is coming from, so if you continue you will lose for the second time.

Trading is a risky activity so it is hard to master but it's fine if we keep on making a mistake. What important is that we are improving and we slowly recovering our past losses. If you are a kind of person that is perfectionist or you are afraid to fall then you better not engage in trading or even in other activities which has a lesser risk than it so that you will never be disappointed.

Trading and gambling are quite similar in terms of risk but the only advantage of trading is that it is possible to know the cause of your mistakes and it is possible for it to be corrected but that is something that is hard to do in gambling since gambling works randomly.

[Quidat]

Of recent, I've come across alot of people talking about traders chasing their losses which at the end, leads to possible blowing of accounts.
I understand that people trade with expections and most times when this expectations aren't met, they try as much as possible to chase after their losses and my questions are
~ what is your take on revenge trading?
~ Do you think people intentionally go into revenge trading or is is just emotional?
~ what will you advise someone making series of losses ?

-Revenge trading turns out to be simply a gamble yet emotions would be the main reason on why you are trying out to chase up your losses or simply you are already making it as a gambling.
-This is pure emotion, its not bad to aim for making some breaking even with those losses but just remember that you shouldnt really make yourself that too desperate.
-When you are already on losses then make yourself taking a break, trying out to reassess on what are the things what makes you make losing trades.
Dont make yourself that too impulsive because it would really just make things even gotten more worst.

[shinratensei_]

seems like best way to lose all your money overnight, the chance of you making recovery towards your previous losses is like gambling, therefore I think this trading comes out as driven emotionally which usually could incur massive losses, otherwise anyone would make good planning beforehand but it seems chasing after losses mindlessly seems like futile effort in regaining back their losses, if they are at tranquil state and could make losses it's getting even worse when inside of their mind is chaotic like that, I think after series of losses, it's wiser just to take a break.

[GreatArkansas]

~ what will you advise someone making series of losses ?
(....)

First, you need to identify your mistakes here, like where did you go wrong? But before that, you must have records of your trading.
So here comes the trading journal, trading journal is also important when you are doing trading because of these, after you close your trade, you can review it and check why did you enter the trade and why you close the trade, or how it went wrong (stop loss hit).
And then, later on, you need to apply the lesson you learned, and you will not do again the mistake you did.

[adaseb]

We are all guilty of revenge trading. It’s not only in cryptos, it also happens in stocks. The issue is the emotions of greed and fear.

Most revenge trading happens after a big loss and many want to trade back to break even. And they add to losing positions or reverse their positions or they trade higher position sizes.

And you can see when it happens in the markets. Usually market had a small dip and then a very large dip. Then it reversed and has a huge pump and this is how people get chopped both ways.

[Franctoshi]

Of recent, I've come across alot of people talking about traders chasing their losses which at the end, leads to possible blowing of accounts.
I understand that people trade with expections and most times when this expectations aren't met, they try as much as possible to chase after their losses and my questions are
~ what is your take on revenge trading?
~ Do you think people intentionally go into revenge trading or is is just emotional?
~ what will you advise someone making series of losses ?

 Emotion plays an important role here as regards to revenge trading if not controlled, and as result of you doing that most of the times you will definitely get more loses in the end.
Therefore ,One very important thing every trader that is in such condition should know is that you can't win all the time , sometime you profit and sometimes you lose , So just accept loses whenever you lose a trade and take it that your set up or the market is not favorable to you that very day and walk away, Hence the resultant effect could lead to blown off of your trading capital.

[Poker Player]

~ what is your take on revenge trading?

I think the concept is bullshit.

~ Do you think people intentionally go into revenge trading or is is just emotional?

It is an emotional state that people get into when they lose and are also stressed or tired, either as a result of losses or for other reasons, and this causes them to despair and chase their losses, which can happen in both trading and gambling.

~ what will you advise someone making series of losses ?

Let him go home, rest, and come back another time when he is fresh. If the losses are repeated several times and significantly hurt the finances, let him quit.

[stadus]

Of recent, I've come across alot of people talking about traders chasing their losses which at the end, leads to possible blowing of accounts.
I understand that people trade with expections and most times when this expectations aren't met, they try as much as possible to chase after their losses and my questions are
~ what is your take on revenge trading?
~ Do you think people intentionally go into revenge trading or is is just emotional?
~ what will you advise someone making series of losses ?

We don't need to do that if we aim to succeed in trading. Chasing losses is also a chance of losing more. Why? It is because you are not enjoying trading anymore but what is in your mind is to recover your losses and this is not a good habit that a trader must have to ware. What we need is to have peace of mind despite the losses we get in the past and forget about it. Might it was hard but thinking the past mistakes and losses are a hindrance to thinking of better strategies, instead it will cause only more trouble if we continue.

[tvplus006]

...Trading and gambling are quite similar in terms of risk but the only advantage of trading is that it is possible to know the cause of your mistakes and it is possible for it to be corrected but that is something that is hard to do in gambling since gambling works randomly.

If a person is a gambler, then no matter what he is doing, his nature will definitely take up regardless of whether he is trading or playing in a casino. In this case, he will open orders again and again, hoping that this time he will be lucky and he will return the lost money. But as a result, he will lose the entire deposit, as he will not be able to stop even after a profit deal.

[kamvreto]

this is the first time I hear the term revenge trading, maybe it's because of the continuous losses and wanting to return the losses by re-trading. Someone certainly made a mistake when trading and wanted to trade revenge. one of the factors is maybe emotional or psychological that can't be controlled.

Some advice for people who make a series of mistakes that result in losses is to learn how to trade properly and be able to avoid losses. Reading charts and doing analysis is highly recommended to predict market prices. Do not trade without having trading knowledge. revenge trading or whatever the term is, the important thing is don't get into bigger losses, be more careful when trading and calculate everything.

[Jody.Drummer]

Believe in revenge trading as you say it will make the losses even bigger. Why? because they are trying to recover losses as long as they are losing in trading, and that means they are still controlled by high emotions because of the disappointment of what has happened to their money when trading before. I say this because revenge is a negative context, as I said above.
I think everyone wants to get their money back after losing money, but there is a strategy to be followed. Remain calm and do it slowly, because if we do it in a hurry, it will not be the profit that we get, but the losses that will be even greater.

[SquallLeonhart]

...Trading and gambling are quite similar in terms of risk but the only advantage of trading is that it is possible to know the cause of your mistakes and it is possible for it to be corrected but that is something that is hard to do in gambling since gambling works randomly.

If a person is a gambler, then no matter what he is doing, his nature will definitely take up regardless of whether he is trading or playing in a casino. In this case, he will open orders again and again, hoping that this time he will be lucky and he will return the lost money. But as a result, he will lose the entire deposit, as he will not be able to stop even after a profit deal.

People who are acting with their emotions are throwing money away and that's the issue, if you are going to focus on the amount of money you are going to make then you are not going to be profiting at all. I personally believe that the best thing we could do when we lose is to calm down and focus on long term aspects of it.

When I buy something and it goes down, I do not go seek out a quicker way to make it back, I start to slowly collect more and more bitcoins and eventually that will make me a lot of money. This is not really a shocking result, because bitcoin makes a profit in the long run anyway so that is a better method than emotionally trade.

[Fatunad]

Believe in revenge trading as you say it will make the losses even bigger. Why? because they are trying to recover losses as long as they are losing in trading, and that means they are still controlled by high emotions because of the disappointment of what has happened to their money when trading before. I say this because revenge is a negative context, as I said above.
I think everyone wants to get their money back after losing money, but there is a strategy to be followed. Remain calm and do it slowly, because if we do it in a hurry, it will not be the profit that we get, but the losses that will be even greater.

When you are on the conditions on which you are already making use of your emotion in towards your decision then it would really be resulting into that desperation and you wont
really be already following those analysis that you have made out just because you are already tolerating your emotion and the ones who would be in control which is something not really that recommended
for you to do so. Losses are inevitable since market is unpredictable but doesnt mean that you should really make yourself that impulsive because it could really stir
up your mind for whatever decisions you had made out earlier this is why its needing up that self control when it comes to this instance.

[Issa56]

Of recent, I've come across alot of people talking about traders chasing their losses which at the end, leads to possible blowing of accounts.

If you endup chasing your lose in a trade, then you might endup losing more money, because their will be pressure on you, which at the end you might end up taking a wrong step.
 

~ what is your take on revenge trading?

Whenever you trade and you lose, don't try to revenge, just close your trade at that moment, or close your trade for that day and come back later, if you are coming back you might just trade another coin separately.

~ what will you advise someone making series of losses ?

If you are making series of losses in a trade, one of the things you should do is to check your trading strategy, something might be wrong, also if you can't trade, you are just buy a coin and Hold.

[uneng]

Revenge trading is the same as revenge gambling. The concept, causes and effects are almost the same, although in trading addiction might not be the exact reason and recurrency is likely to be lower than in gambling. What happens in trading is that people watch those gurus from Youtube and Telegram groups encouraging them to start trading and acquiring the products they sell, so people really think trading is a safe source of income towards the so desired independent life. When they realize it's not that simple, and that losses are not only possible, but also likely, they may feel despaired to recover what they have already invested and lost. So they appeal to revenge trading.

Hopefully, after finding themselves in a situation like that once is already enough for them to learn the lesson and never try again.

[Kelvinid]

Revenge? We are putting anger and pressure into our minds but it is never a good idea OP, you are adding more chances of losing than making a profit from it.
In trading, we don't have to chase our losses but rather find where we are wrong. In this way, we can find a solution that helps us to get back what we lose in the fast and preventing not to happen again. It was not revenge, we take action to have a better output. If revenge is always on our minds, I don't think we can go further.

[Jody.Drummer]

Believe in revenge trading as you say it will make the losses even bigger. Why? because they are trying to recover losses as long as they are losing in trading, and that means they are still controlled by high emotions because of the disappointment of what has happened to their money when trading before. I say this because revenge is a negative context, as I said above.
I think everyone wants to get their money back after losing money, but there is a strategy to be followed. Remain calm and do it slowly, because if we do it in a hurry, it will not be the profit that we get, but the losses that will be even greater.

When you are on the conditions on which you are already making use of your emotion in towards your decision then it would really be resulting into that desperation and you wont
really be already following those analysis that you have made out just because you are already tolerating your emotion and the ones who would be in control which is something not really that recommended
for you to do so. Losses are inevitable since market is unpredictable but doesnt mean that you should really make yourself that impulsive because it could really stir
up your mind for whatever decisions you had made out earlier this is why its needing up that self control when it comes to this instance.

The intention to return profits is indeed very good but conditions like this clearly cannot be done when you are involved in a condition where emotions and want revenge quickly because in this case self-control is the most important thing because when we are only fixated on emotions sometimes we cannot pay attention this small detail becomes the scourge of damage where you are only fixated on wanting to return your losses so you don't really care about the risk of another defeat.
Stay calm, because we can't do something if we can't control our own emotions.

[Strongkored]

Of recent, I've come across alot of people talking about traders chasing their losses which at the end, leads to possible blowing of accounts.
I understand that people trade with expections and most times when this expectations aren't met, they try as much as possible to chase after their losses and my questions are
~ what is your take on revenge trading?
~ Do you think people intentionally go into revenge trading or is is just emotional?
~ what will you advise someone making series of losses ?

Why revenge with a losing trade, trading is not boxing, MMA or UFC, which requires revenge if you lose, can ask the promoter to do a rematch.
When traders experience defeat, what must be done is to evaluate what caused it, which is why trading journals are sometimes important to make.
If there is a trader who takes revenge or tries to chase win to cover previous losses, it proves that he is using funds that cannot afford to lose and emotions will overwhelm him and it is very likely that he will experience bigger losses.
Evaluate and pause before starting a new step and maybe with a new strategy too, trading should be done with a clear mind

[TheUltraElite]

~ what is your take on revenge trading?

I am hearing the term for the first time here so I will go with my gut feeling and what I understood after reading some of the replies here, that you are referring to something like chasing losses in gambling. I would not recommend that at all.

As a trader you need to have the composed mindset and not the reckless one. If you lost money on one trade, considering it to be a spot trade, you defenitely have a chance of getting it back but it will cost time. This decision making improves with practice. If trading on anything other then Spot, then you are gambling anyway, in which case I dont have anything to say.

~ Do you think people intentionally go into revenge trading or is is just emotional?

Maybe emotional, but like I said, I am hearing it for the first time, maybe I was ignorant.

~ what will you advise someone making series of losses ?

Stop and see where you went wrong. Series of losses is not possible in Spot trading per see unless you bought shitcoins everyday. You are likely talking about leverage or margin