Kardec Trader explains revenge trading: after a loss, anger pushes you to immediately trade again to recoup the money. The fix is simple. Stop trading, close your screens, take a walk, come back tomorrow.
So going back in my trading, there was a couple of times where. Not a couple of times, a lot of times, especially in my early days, I have revenge traded now. The reason for me revenge trading was basically right. When I would go into a position, I would lose money. The moment I would lose, I would get angry, I would get upset.
Why did I lose money? I shouldn't have lost money. The trade was going in my favor. I got stopped out too early, and.
Immediately I go into the second trade trying to make the loss back. The moment you feel like you need to make the loss back is the moment you need to get up, walk away from your trading screen, and just call it a day. Just. Just call it a day. If you ever feel like you need to make back the money you lost and your emotions are taking over, just trust me, call it a day, close your screens, go out for a walk, and come back tomorrow to a new day. It just won't end well.
