fennic
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January 03, 2023, 03:55:10 PM |
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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 ?
I have never heard of anything Regarding Revenge trading. I have seen that some people who use a lot of High leverage end up using blowing off their accounts. And that ahs been happened to me 2 times in almost 2 years. And I ended up loosing so much money that I saved. And when I lost such money than I was very demotivated and I wanted to cover my loss by taking loans and also that would have gone too and I might be depressed too. So that's why do not use such higher leverages in our life.
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justdimin
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January 03, 2023, 07:18:11 PM |
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I have never heard of anything Regarding Revenge trading. I have seen that some people who use a lot of High leverage end up using blowing off their accounts. And that ahs been happened to me 2 times in almost 2 years. And I ended up loosing so much money that I saved.
Yeah, leverage trading is high risky one and what OP is demonstrating here is revenge which is different from leverage still risk-wise same. I mean revenge is kind of chasing your losses like trying for quick recovery without proper preparation. In trading we should not rush to open trade regardless of a fresh trade or a trade for recovering losses. If we open a trade after proper analysis then there will be no room for revenge. 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.
Lack of patience lead to losses even in spot trading. Rushing to make profits leads to losses and lands into recovery phase where the actual 'revenge' starts.
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palle11
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January 03, 2023, 08:04:43 PM |
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~ what is your take on revenge trading?
It is not good to trade in wanting to revenge on your loses because you will make more mistakes. ~ Do you think people intentionally go into revenge trading or is is just emotional?
It is both. The emotion of losing your trade or money push you to go for revenge in trying to regain your lost money. Well whether it is intentional, it is caused by the emotion. ~ what will you advise someone making series of losses ?
Learning more skills will help rather than to keep throwing in funds to the whales. It is better to stop for sometime and go into more strategy building.
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stomachgrowls
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January 03, 2023, 08:29:35 PM |
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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 ?
I have never heard of anything Regarding Revenge trading. I have seen that some people who use a lot of High leverage end up using blowing off their accounts. And that ahs been happened to me 2 times in almost 2 years. And I ended up loosing so much money that I saved. And when I lost such money than I was very demotivated and I wanted to cover my loss by taking loans and also that would have gone too and I might be depressed too. So that's why do not use such higher leverages in our life. On the term itself about revenge then this is some sort of impulsive trading which it do acts out the same on the time that you do chase up your losses when you do gamble, this is the same thing on which you are really that desperately trying out to break even yourself of those losses that you do have encountered on your trades which its not really something that recommendable because it would really just make things even more worst and this is why you should really be that careful and having that good control towards your emotions. Always set out limits and really be having that risks management because you would really be seeing yourself getting fucked up some more if you do let yourself that too reactive whenever you do make up some loss.Its much better if you do reassess up situation on where did you go wrong.
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ShowOff
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January 03, 2023, 08:57:04 PM |
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If you are trading revenge, then it means you are gambling with him. I often hear about revenge gambling, it is done because the gambler wants to recover losses but how is it different from revenge trading? For me both are the same, there is no difference.
You'll probably get the revenge investment idea after this. But I honestly would rather do it if it were bitcoin. My point is, if you previously bought $30K of bitcoin, then get your revenge now by investing more at $16K. You may get worth it return and it may allow you to recover your losses. It was great revenge.
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goldkingcoiner
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January 03, 2023, 09:46:44 PM |
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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 ?
^ I think there is a word for this and it also exists in the world of gambling. I have no idea what the word officially is, but it might be "frustration gambling". When you gamble too much and things are not going your way, you get frustrated and more easily lose your money in this psychological state. Its never good to make decisions when one is angry or happy. Decision-making needs a sober, neutral mind. But I have traded out of frustration before and lost a lot of money. Once again goes to show when trading, leave your emotions at home. ![Roll Eyes](https://bitcointalk.org/Smileys/default/rolleyes.gif)
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kawetsriyanto
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January 03, 2023, 11:08:36 PM |
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~ what is your take on revenge trading?
IMO, fundamentally, there is no term for "revenge trading". You can't chase your losses with revenge trading, it only leads you to more losses. If you got losses, you need to evaluate your trading strategies. You also need to improve your knowledge and skills. It is actually what you need when you got losses continuously. You won't make your trading better if you never evaluate it, dude. ![Wink](https://bitcointalk.org/Smileys/default/wink.gif) ~ Do you think people intentionally go into revenge trading or is is just emotional?
Yes. It's simply the wrong way of expressing emotion. People who do revenge trading probably make riskier for their funds. I don't see a better opportunity to recover their losses, it even leads to more and more losses. ~ what will you advise someone making series of losses ?
I've explained above: - Evaluate trading strategies - Improve knowledge and skills - Strengthen your analysis of the market situation
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so98nn
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January 04, 2023, 06:11:03 PM |
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That is stupid idea. The more you chase your losses the more frustrated you become and the more money you loose in the process. The problem is not with the idea of chasing the losses money but it does not work like the way it is being stated in the op. First of all, no one ever hear about the term revenge trading and you claiming that its in the talks. Thats funny actually. All you can do is "avoid losses or may be "cut your losses" in any given trade. You can then set your BEP (break Even point) which is no profit no loss line for your portfolio (entirely). This is then followed with the strategic trades which can help you keep well about BEP line thus making you profit. In the trading, you don't recover the losses, you keep yourself above BEP to make most of the money out of it, like a passive income stream.
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Mahanton
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January 04, 2023, 08:42:05 PM |
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That is stupid idea. The more you chase your losses the more frustrated you become and the more money you loose in the process. The problem is not with the idea of chasing the losses money but it does not work like the way it is being stated in the op. First of all, no one ever hear about the term revenge trading and you claiming that its in the talks. Thats funny actually. All you can do is "avoid losses or may be "cut your losses" in any given trade. You can then set your BEP (break Even point) which is no profit no loss line for your portfolio (entirely). This is then followed with the strategic trades which can help you keep well about BEP line thus making you profit. In the trading, you don't recover the losses, you keep yourself above BEP to make most of the money out of it, like a passive income stream.
It falls out to be like when you do gamble on which if you do try to chase up your losses then you would be basically be losing up even more because you would really be that desperate.You cant really think up well already just because you had been bothered or boggled up your mind on trying up to break even which is really a must avoided kind of emotion or feeling specially when you are already getting that serious on getting those losses back.Its better that you should make yourself that still focused on how to make good trades rather than on chasing up your losses which is a no-no when we are dealing with trading because its a different thing in comparison with gambling which it shouldnt really be treated up the same.
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mvdheuvel1983
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January 04, 2023, 10:07:14 PM |
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Revenge trading is akin to revenge gambling. And I think that people who fall victims of this are newbies. Maybe it is the get-rich-quick syndrome at romances them into thinking that they jump in again after a loss without any tactics or trading strategy and think that they will win. I have been cautioned several times about this, that the moment I feel the urge to jump back in after a loss is the moment, I should take a break.
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Franctoshi
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January 05, 2023, 11:45:30 AM |
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And I think that people who fall victims of this are newbies.
Not necessarily newbies only, even some experience trade fall victim of this because a lose trade always comes with pains or emotion, meaning that you as a trader you definitely would want to recover your loses each time you lose trade , because realistically every trader in the market will always want to win regardless, Except for a trader who has trained him/herself in accepting a lose incurred on the process of trading. This is why emotion has a lot to do when it comes to trading.
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Adbitco
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January 05, 2023, 01:57:53 PM |
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Revenge trading is the worst thing a man could do why because he is trading fully with annoyance and with all possibility to recover all lost at end endangering himself or herself the more. The simple analogy there is when you trade and it happens you always losing, don't trade anymore look for possible best solution either you are trading with fear and anxiety, this could be a reason that possibly wanting to be rich over a single trade at this point you stand all chance of losing your funds. Before going into trading check first if you are mentally, physical suited to start the journey as I know not everyone could withstand the pressure seeing that they are losing big money, don't trade instead go for investment or possibly DCA would likely help compared with trading.
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Questat
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January 05, 2023, 02:19:30 PM |
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~ Do you think people intentionally go into revenge trading or is is just emotional?
Many, a lot of traders are chasing their losses and they will take putting in more funds as they'll think it could help to recover. Unfortunately, it was not the solution as it only makes you fail and lose more. ~ what will you advise someone making series of losses ?
Instead of thinking about "revenge", better think about how to improve our knowledge and skills. Too much emotion is not good in trading as it will lost your focus and market understanding. We can recover them gradually if we are consistent in our strategies and remain calm.
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Yawa2020
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January 05, 2023, 02:28:58 PM |
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In any case, I advise you to leave your feelings away when trading. In all cases, there is profit and loss in trading, which means that loss is part of the process of profit. Trading revenge and trying to trade in order to please your hormones will lead you to more losses.
I don't think it is possible to trade absolutely without attaching feelings. Emotions can be reduced to minimal stage but can not be absolutely do away with. Talking about revenge trade, it some time work out for me and some time it back fire and leading to additional lose. Daily limit can be helpful in controlling your betting attitude.
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maydna
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January 05, 2023, 02:51:38 PM |
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It's fine if they want to do revenge trading as long as they can learn more so they can try to make a profit. It would be like spurring oneself to analyze better than before and it seemed that that person could do it for profit. But it won't be easy because that person must study more seriously to know when to trade and when to get out of the market. Maybe it is a revenge trade and is related to the emotion of having already had a few losses and wanting to recover them. I advise learning to analyze better to recover losses instead of getting more losses.
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tvplus006
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January 05, 2023, 04:21:09 PM |
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Do you think people intentionally go into revenge trading or is is just emotional?
Many, a lot of traders are chasing their losses and they will take putting in more funds as they'll think it could help to recover. Unfortunately, it was not the solution as it only makes you fail and lose more. It is possible that some are familiar with the martingale strategy, when a player raises the stakes until he wins. But trading is not a casino where there is no technical analysis, and winning depends only on probability theory, so you can endlessly lose your money by trading against the trend.
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irhact
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January 05, 2023, 07:08:04 PM |
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It's fine if they want to do revenge trading as long as they can learn more so they can try to make a profit. It would be like spurring oneself to analyze better than before and it seemed that that person could do it for profit. But it won't be easy because that person must study more seriously to know when to trade and when to get out of the market.
Revenge trading is never fine, you can never be profitable doing so instead you'll end up in more losses and probably lose all the money in your trading account. When you try to revenge trade, you're trading with emotions and that's among the first things you were told to never do when trading and also your decision making will be off track. Things that you won't have normally done with a clear head will seem normal to you like when you aren't supposed to enter a trade, you will do exactly that and that begins your failure. There's a reason we are advise not to do so by the experts and that's because they have fallen victim and trying to warn us against going the same path.
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maydna
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January 06, 2023, 03:17:31 PM |
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It's fine if they want to do revenge trading as long as they can learn more so they can try to make a profit. It would be like spurring oneself to analyze better than before and it seemed that that person could do it for profit. But it won't be easy because that person must study more seriously to know when to trade and when to get out of the market.
Revenge trading is never fine, you can never be profitable doing so instead you'll end up in more losses and probably lose all the money in your trading account. When you try to revenge trade, you're trading with emotions and that's among the first things you were told to never do when trading and also your decision making will be off track. Things that you won't have normally done with a clear head will seem normal to you like when you aren't supposed to enter a trade, you will do exactly that and that begins your failure. There's a reason we are advise not to do so by the experts and that's because they have fallen victim and trying to warn us against going the same path. Indeed, revenge trading will not be profitable, but as long as you learn more about the trade, you still have a chance to profit. But if you trade using emotions because of previous losses, you can make a wrong analysis and will cause another loss. Try to always be calm in trading, especially when you are analyzing because the calm factor is the most important to analyze properly. And if you have experienced losses from previous trades, you should rest while analyzing where the previous mistakes were so you could analyze even better. Perhaps, the coin selection isn't right, so you experience an error in analyzing.
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teosanru
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January 06, 2023, 04:13:38 PM |
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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 is the worst thing that you can do to yourself and your account as well. Trading is a test of your emotional intelligence and patience. Things like revenge trading will only make you do hasty decision making nothing other than that. Which will give you even more losses and you'll become even more hungry for revenge and go into even more loss this cycle would continue until you blow your account.
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sana54210
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January 08, 2023, 07:26:52 PM |
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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 ?
DO NOT go out of your regular strategy. If you lose money that's fine, learn from the mistake and check why you lost money and fix anything that was wrong with the system and then keep trading the way you normally do. If you start to trade with bigger amount of your capital to make it back, even go all-in to make sure you make that loss back then you are going to lose even more, this is 100% true and quicker for leverage trading as well. It's best to stick to a plan, and have that plan for many years because it allows you to master it and be better at it. Each time there is a loss, figure out the reason, this will make you better and have less losses eventually.
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