Kardec Trader shares how revenge trading after big losses cost him 20,000 to 30,000 per day. When you lose money and try to make it back immediately, you'll blow your account. Stop trading when you're emotional, close the screens, take a walk, come back tomorrow.
Approximately 20,000–30,000+ (currency unspecified) lost in a single day due to revenge trading.
Guys, the moment you feel like you need to make the lost 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. That's me talking from experience, where I've had some of my biggest losing days, losing 20, 30,000 plus a day because I was revenge trading, because I was trying to make up the money that I lost, because I was trying to make up for the profits I could have essentially made because of FOMO and things like that. So if you start feeling these emotions, you have to know how to deal with them.
