xSkylarx
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January 13, 2023, 06:10:13 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. Iam a victim of revenge trading unfortunately it had done more harm to my account than good, after some losing streaks I do embark on revenge trading due to emotion which I think it isn't intentional while deviating from my main trading strategy in most cases I blew up my account and have to start afresh, I believe this often common among newbies In a bid to recover losses swiftly ended up losing more money,though I always trade with the amount of money I can afford to lose, obviously to be successful in trading one has be well disciplined to overcome any form of emotion and also avoid changing trading strategy. It was intentional for sure since you are aware of it; it is just that you can't control your emotions about it, meaning that even though you are aware, you still want to chase up your losses. It is really part of the newbie experience; I also experience this, but because of this, we learned a lesson to not be greedy and not be emotional. When I get hot in trading, I walk away from my computer like I'm riding a motorcycle for 10 minutes to get some fresh air, and then I'm back in my mind. If you are feeling emotional, it is best to rest before continuing with the trade.
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LUCKMCFLY
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January 14, 2023, 02:30:35 AM |
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In the beginning, when I was learning trading, I watched a lot of YouTube and a lot of videos on how to be a profitable person, I learned a lot about technical analysis, about the different lines like EMA, among others, and applied them, and in fact sometimes I used them. I applied all the lost ones, there was none that I won, and since I did not know that the error was not me but the person I learned, I did not know that it was neither accumulation or distribution, something like that, however I kept trying and what I did It was losing money, and among it a feeling of revenge against the market awoke in me, but that is never good, whenever you lose it is because someone else won and if you win it is because another trader lost.
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AicecreaME
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January 14, 2023, 10:00:55 AM |
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~ what is your take on revenge trading?
Revenge trading is like running in the dark where you can't see anything, even when you hurt yourself, you just keep on running. ~ Do you think people intentionally go into revenge trading or is is just emotional?
It is emotional, of course. Revenge trading is triggered by continuous disappointing results after so many try, especially when you spent too much time studying and making technical analysis yet you still can't make profits. ~ what will you advise someone making series of losses ?
Stop for a while, focus on studying more after figuring out what seems to be the problem that cause you a lot of losses. Only enter a small trade to test out your new approach in trading, if it turns well, then start increasing the amount you trade. Newbies often trade on a randomly amount with high leverage, that's why they always get liquidated easily. Making profits in trading takes time, if you don't have the patient, you'll definitely lose all your money no matter how many times you come back.
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Mpamaegbu
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January 15, 2023, 02:48:06 PM |
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Truth is that every losing trader wants to catch up and recover their losses but that will depend on the mindset adopted. No trader should back out because they're losing. However, it's good to do the chase with a clear head. Otherwise, the trader keeps losing. Those who take a break because they've suffered losses and then come back without reviewing their trading plans and strategies will keep losing. It doesn't matter how long they absent themselves from the market. The market is the master. No matter how angry traders are at their losses, they ought to reckon that they can't take a pound of flesh from the market.
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Before you boast of your material acquisition, take a stroll to a morgue and there you will find those who were once better than you're. Only fools think they've it all. Stay humble 🤔
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virasisog
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January 15, 2023, 03:02:52 PM |
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Truth is that every losing trader wants to catch up and recover their losses but that will depend on the mindset adopted. No trader should back out because they're losing. However, it's good to do the chase with a clear head. Otherwise, the trader keeps losing. Those who take a break because they've suffered losses and then come back without reviewing their trading plans and strategies will keep losing. It doesn't matter how long they are absent themselves from the market. The market is the master. No matter how angry traders are at their losses, they ought to reckon that they can't take a pound of flesh from the market.
Of course, we all want to regain our losses which I think is normal but we should chase them responsibly. We can feel disappointed and upset for losing our funds but chasing them with a negative mindset will be a wrong move. We can take a break if ever we are experiencing extreme losses and just trade again after conditioning our emotions. Revenge trading for me is a negative term and recovering from our losses will be more acceptable.
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Silberman
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January 15, 2023, 06:17:52 PM |
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Truth is that every losing trader wants to catch up and recover their losses but that will depend on the mindset adopted. No trader should back out because they're losing. However, it's good to do the chase with a clear head. Otherwise, the trader keeps losing. Those who take a break because they've suffered losses and then come back without reviewing their trading plans and strategies will keep losing. It doesn't matter how long they are absent themselves from the market. The market is the master. No matter how angry traders are at their losses, they ought to reckon that they can't take a pound of flesh from the market.
Of course, we all want to regain our losses which I think is normal but we should chase them responsibly. We can feel disappointed and upset for losing our funds but chasing them with a negative mindset will be a wrong move. We can take a break if ever we are experiencing extreme losses and just trade again after conditioning our emotions. Revenge trading for me is a negative term and recovering from our losses will be more acceptable. When we lose money in a trade I would consider it to be completely normal to try to recover that money as no one really comes to this market in order to lose it, however there is a big difference between that attitude and the attitude of those that are revenge trading in which they have let their emotions take control of them and they forcing trades and opening positions when their strategy has not gave them a signal to do so, which by the way instead of helping them to recover the money they have lost this will increase the size of their losses.
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Mahanton
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January 16, 2023, 11:24:35 PM |
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Truth is that every losing trader wants to catch up and recover their losses but that will depend on the mindset adopted. No trader should back out because they're losing. However, it's good to do the chase with a clear head. Otherwise, the trader keeps losing. Those who take a break because they've suffered losses and then come back without reviewing their trading plans and strategies will keep losing. It doesn't matter how long they are absent themselves from the market. The market is the master. No matter how angry traders are at their losses, they ought to reckon that they can't take a pound of flesh from the market.
Of course, we all want to regain our losses which I think is normal but we should chase them responsibly. We can feel disappointed and upset for losing our funds but chasing them with a negative mindset will be a wrong move. We can take a break if ever we are experiencing extreme losses and just trade again after conditioning our emotions. Revenge trading for me is a negative term and recovering from our losses will be more acceptable. When we lose money in a trade I would consider it to be completely normal to try to recover that money as no one really comes to this market in order to lose it, however there is a big difference between that attitude and the attitude of those that are revenge trading in which they have let their emotions take control of them and they forcing trades and opening positions when their strategy has not gave them a signal to do so, which by the way instead of helping them to recover the money they have lost this will increase the size of their losses. Trying out to recover is something that is really a normal impression or reaction for someone and there's no exemption to this because we are just humans which it would really be normal that you would be trying out to recover on what you had lost but you should really be doing all things to a certain manner or simply being having the control because exerting too much effort does really generate out that kind of impulsive feeling of revenge which would be ending up on being desperate measures which would really be resulting into that revenge trading which isnt something recommendable.
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Sebas.tian
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January 17, 2023, 04:00:47 AM |
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Revenge trading will not help you to achieve what you want in the crypto market, because your mind will be the losses you have experienced in the past which is not advisable to any traders in the community. The best way to recover your losses is to trade as if you have never experience any failure in your crypto trading, and it will help you to kill the spirit of fear and bring in the spirit of patience for you to be able to recover from what you have lost in the market. I believe, this is another opportunity for those that want to recover from their losses to look for a potential coins to buy and hold because potential coins price are in a good position to bring good reward to their investors.
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Volimack
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January 17, 2023, 09:22:05 AM |
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To recover the loss in trading, the coins should be checked well do not get discouraged and try again, if you fail trading is hard work there's no denying it. But the most important thing is that trading is a commodity that can be learned through training and practice. As long as you're holding a position in a trade, it's veritably important to stay focused. Complacency can beget you capital loss losses admire the situation and close the trade by using stop loss, if a bad situation arises where you need to stop trading.
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_BlackStar
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January 17, 2023, 10:43:23 AM |
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Revenge trading will not help you to achieve what you want in the crypto market, because your mind will be the losses you have experienced in the past which is not advisable to any traders in the community. Revenge in my assumption is one way to satisfy oneself after something unfortunate. Revenge trading is of course not one that is recommended for recovering losses, but I think someone can make investments by accumulating assets and holding them for the long term so that the losses will be covered. The last point is logical to me, but I don't know what they were thinking. I don't fully understand how someone would do revenge trading anyway, it must be some kind of gamble.
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xSkylarx
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January 17, 2023, 10:52:18 AM |
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Truth is that every losing trader wants to catch up and recover their losses but that will depend on the mindset adopted. No trader should back out because they're losing. However, it's good to do the chase with a clear head. Otherwise, the trader keeps losing. Those who take a break because they've suffered losses and then come back without reviewing their trading plans and strategies will keep losing. It doesn't matter how long they are absent themselves from the market. The market is the master. No matter how angry traders are at their losses, they ought to reckon that they can't take a pound of flesh from the market.
Of course, we all want to regain our losses which I think is normal but we should chase them responsibly. We can feel disappointed and upset for losing our funds but chasing them with a negative mindset will be a wrong move. We can take a break if ever we are experiencing extreme losses and just trade again after conditioning our emotions. Revenge trading for me is a negative term and recovering from our losses will be more acceptable. When we lose money in a trade I would consider it to be completely normal to try to recover that money as no one really comes to this market in order to lose it, however there is a big difference between that attitude and the attitude of those that are revenge trading in which they have let their emotions take control of them and they forcing trades and opening positions when their strategy has not gave them a signal to do so, which by the way instead of helping them to recover the money they have lost this will increase the size of their losses. Accepting that you will lose should be learned in the first place when we start learning the basics of trading. You are correct; no one enters the market without the desire to recoup losses; however, this should be done in moderation, not as if you need it back today and will go all in, which is a bad move. Others' strategies are to accumulate it over time, while others just forget about it and continue trading, and when they see that they are getting profit, they will look back at their losses to see if they really gained profit. It is really best if we can just accept our losses and move on, as this is for our own good.
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mendace
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January 17, 2023, 08:56:15 PM |
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Revenge trading will not help you to achieve what you want in the crypto market, because your mind will be the losses you have experienced in the past which is not advisable to any traders in the community. Revenge in my assumption is one way to satisfy oneself after something unfortunate. Revenge trading is of course not one that is recommended for recovering losses, but I think someone can make investments by accumulating assets and holding them for the long term so that the losses will be covered. The last point is logical to me, but I don't know what they were thinking. I don't fully understand how someone would do revenge trading anyway, it must be some kind of gamble. Revenge trading refers to making trades or investments with the primary motivation of trying to recoup losses or "get back" at the market or a specific stock or security that caused the losses. This type of trading is generally not recommended as it can lead to impulsive and emotional decisions, rather than rational and well-thought-out ones. Instead, it's better to focus on a long-term investment strategy and building a diversified portfolio that can weather market fluctuations. This is a more logical way of recovering losses. It's important to have a well-defined investment plan and stick to it, rather than engaging in revenge trading.
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kawetsriyanto
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January 17, 2023, 09:58:36 PM |
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Truth is that every losing trader wants to catch up and recover their losses but that will depend on the mindset adopted. No trader should back out because they're losing. However, it's good to do the chase with a clear head. Otherwise, the trader keeps losing. Those who take a break because they've suffered losses and then come back without reviewing their trading plans and strategies will keep losing.
Agree. Whenever a trader gets a loss, it is normal to think about catching/recovering the loss. However, it is true that we must recover it in the right way. And we must evaluate the problem or mistake we did, that lead to the previous loss. So, we know the wrong thing with our trading strategy, and we won't repeat the same mistake. If we never learn or evaluate it, we may repeat the same loss again and again. A trader who can learn from the previous mistake also will improve the strategy, so the chance to get profits will be higher. Well, IMHO actually there is no term for revenge trading. What a trader does after getting a loss is " recovering the loss". But it must be in the right way!!
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GeorgeJohn
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January 17, 2023, 10:52:13 PM |
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~ what will you advise someone making series of losses ?
In this aspect, and someone is experiencing constantly lose in trading, the person don't need to panic or conclude that trading is a scam or gamblling.what the person haveto do is to go back and study the basic risk measure involve in trading, and secondly tried to understand the reason while it's having loss in trading. because some people doesn't know the rudiments of trading before venturing into it.so therefore a trading is a skill and if you don't understand the rudiments you will continue to experience the negative side of trading as a lost.
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Obari (OP)
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January 18, 2023, 08:58:47 PM |
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~ what will you advise someone making series of losses ?
In this aspect, and someone is experiencing constantly lose in trading, the person don't need to panic or conclude that trading is a scam or gamblling.what the person haveto do is to go back and study the basic risk measure involve in trading, and secondly tried to understand the reason while it's having loss in trading. because some people doesn't know the rudiments of trading before venturing into it.so therefore a trading is a skill and if you don't understand the rudiments you will continue to experience the negative side of trading as a lost. You're right senior and I've been preaching about learning the skills of trading before jumping into it to make profits. People take trading, Bitcoin investment and even gambling as a get rich quick scheme which very wrong though there are people who have made great winnings and profits in gambling and also in trading in a very short space/ period or at a time. Revenge gambling mostly comes when one begins chasing their losses and that is one thing I barely do, not lately anymore and it really helped.
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Hypnosis00
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January 18, 2023, 09:43:47 PM |
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People take trading, Bitcoin investment and even gambling as a get rich quick scheme which very wrong though there are people who have made great winnings and profits in gambling and also in trading in a very short space/ period or at a time. Revenge gambling mostly comes when one begins chasing their losses and that is one thing I barely do, not lately anymore and it really helped.
It was the first look of the majority who are here in crypto but it has changed along the way as they had also learned what really it is. It was time to correct that views and also the mindset of the newcomers, and we have to think about the consequences of being here having no knowledge and skills. If we lose yesterday or even today, we have to leave that way as it usually happens but we never chase them and put pressure on getting it back as this could only lead us to lose more.
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alastantiger
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January 19, 2023, 02:37:33 PM |
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~ 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 forced trading as a result of emotions. You made a loss and feel a strong urge to win back what you have lost and so they prepare to take an unplanned risks that you wouldn't have normally. Here your trading is dependent on your gains and losses. It is good to have other traders in your network that you can immediately talk to whenever you have the urge to chase your losses. They will help you see through your emotional -beclouded thinking. Always have that go-to person.
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palle11
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January 19, 2023, 02:59:46 PM |
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Revenge gambling mostly comes when one begins chasing their losses and that is one thing I barely do, not lately anymore and it really helped.
Inexperienced traders are those who still practice revenge trading. It is better to let lost money go and focus on the future and that is why the chart is analysed for the future happening. Go to the market fresh after every closed trade and not to feel that you want to get back what was lost, you are going to allow your emotions decide what you should do instead of having a good grasp of the market analysis.
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qwertyup23
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January 19, 2023, 03:03:33 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?
I do not think that I have encountered the term "revenge trading" but it somehow implies that a person would trade due to their frustration on incurring their losses. Personally, I find this method really risky as you are basing it almost purely on one's emotional drive on the reason they would trade again. ~ Do you think people intentionally go into revenge trading or is is just emotional?
I do think that there is a factor of emotional drive that compels them to trade again. The problem is that most traders gamble their funds large-scale. They trade large amounts of resources and they hope of recovering such losses by trading again. This potentially can impair their judgement especially if they tend to lose more in the process. ~ what will you advise someone making series of losses ?
My number one advice is to always clear your head and move on. Once you experience a loss on your trade, consider it as a normal occurrence. Remember that trading by itself is a risky venture where no profit is absolute to realize. Learn from your experience as this differentiates a newbie trader from an experienced one.
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TheUltraElite
Legendary
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Activity: 2968
Merit: 1311
So anyway, I applied as a merit source :)
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January 25, 2023, 05:15:30 PM |
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Inexperienced traders are those who still practice revenge trading. It is better to let lost money go and focus on the future and that is why the chart is analysed for the future happening. Go to the market fresh after every closed trade and not to feel that you want to get back what was lost, you are going to allow your emotions decide what you should do instead of having a good grasp of the market analysis. Controlling emotions is not important but necessary in trading, otherwise its going downhill no matter what. Most newbies are making this mistake more often than it gets reported on this forum but I guess veteran traders are also prone to making the same. So it should be a lesson for every one who is involved in actively trading at current times. No amount of emotionally driven trades would recover money lost. In spot trading you still own the opposite asset which you can sell in future, so all is not lost. In other forms of trading, which is basically an EV- game, you are out of luck and you should not try to chase the loss.
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▀▀▀▀▀▀▀██████▄▄ ████████████████ ▀▀▀▀█████▀▀▀█████ ████████▌███▐████ ▄▄▄▄█████▄▄▄█████ ████████████████ ▄▄▄▄▄▄▄██████▀▀ | LLBIT | │ | CRYPTO FUTURES | | | | | | | │ | 1,000x LEVERAGE | │ | COMPETITIVE FEES | │ | INSTANT EXECUTION | │ | . TRADE NOW |
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