What are your thoughts on revenge trading? - page 3.

ScamViruS

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Quote from: salad daging on January 12, 2023, 01:00:12 PM

Quote from: ScamViruS on January 12, 2023, 12:02:24 PM

Quote from: Obari on December 31, 2022, 12:24:47 PM

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 ?

After making multiple losses, a thought comes to the mind of the traders as to how they will recover those losses. And they chase to take profitable trades to cover those losses, but their efforts can often lead to more losses. And for this revenge trading, it actually affects the traders more emotionally. I have experienced such situations and I realized that revenge trading does not take long to washout a trader's account.

Indirectly they don't have control over everything that happens in trading, but revenge trading is not a fast way unless we can choose slowly, it can cover losses, it's just that it takes a long time of patience to do it.
This effort is often not what is expected, sometimes we will become emotional during the trade, so my advice is that it is not the right way, but because of the emotional ambition of losing the trade.

Trading should be done within a discipline and controlling emotions is an important step. Emotions are often responsible for revenge trading. An experienced trader does not think of covering a loss in any way, because he knows that in trading it is possible to win trades with patience rather than revenge trading. Money management, patience, market knowledge will enable a trader to trade successfully.

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Quote from: salad daging on January 12, 2023, 01:00:12 PM

Quote from: ScamViruS on January 12, 2023, 12:02:24 PM

Quote from: Obari on December 31, 2022, 12:24:47 PM

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 ?

After making multiple losses, a thought comes to the mind of the traders as to how they will recover those losses. And they chase to take profitable trades to cover those losses, but their efforts can often lead to more losses. And for this revenge trading, it actually affects the traders more emotionally. I have experienced such situations and I realized that revenge trading does not take long to washout a trader's account.

Indirectly they don't have control over everything that happens in trading, but revenge trading is not a fast way unless we can choose slowly, it can cover losses, it's just that it takes a long time of patience to do it.
This effort is often not what is expected, sometimes we will become emotional during the trade, so my advice is that it is not the right way, but because of the emotional ambition of losing the trade.

Rule number one don't chase your losses as you will lose more. I know what you mean but traders tend to not chase their losses so how they can recover their losses? Simple they continue trading and they keep in their mind that they need to follow their strategy and nothing less so over time if you have discipline you will able to win back your loses by keep winning trades and your goal is just only to win trades and not having to chase your losses. In the long run, you will be able to win back your losses as long as you will stay on your strategy.

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Quote from: ScamViruS on January 12, 2023, 12:02:24 PM

Quote from: Obari on December 31, 2022, 12:24:47 PM

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 ?

After making multiple losses, a thought comes to the mind of the traders as to how they will recover those losses. And they chase to take profitable trades to cover those losses, but their efforts can often lead to more losses. And for this revenge trading, it actually affects the traders more emotionally. I have experienced such situations and I realized that revenge trading does not take long to washout a trader's account.

Indirectly they don't have control over everything that happens in trading, but revenge trading is not a fast way unless we can choose slowly, it can cover losses, it's just that it takes a long time of patience to do it.
This effort is often not what is expected, sometimes we will become emotional during the trade, so my advice is that it is not the right way, but because of the emotional ambition of losing the trade.

CryptoYar

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Quote from: Obari on December 31, 2022, 12:24:47 PM

~ what is your take on revenge trading?

Revenge trading or chasing loss is nothing but a way to lose more.

Quote from: Obari on December 31, 2022, 12:24:47 PM

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

No one would want to lose his money intentionally. Of course, they want to reach breakeven but in this process, they lose more. However, it should be like, when your stop loss is hit, accept the loss and wait for the price to come to your point of interest. And observe the price action in a lower time frame to jump in. If you take trades with good risk to reward then I don't think you will be bothered if some stop loss hits.

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Quote from: Obari on December 31, 2022, 12:24:47 PM

~ 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 ?

1. Revenge reading is unhealthy because as you mentioned it will literally blow up the portfolio account. What's the benefit of doing it then ?

2. I think it's an emotional thing because revenge is an emotion and trading should not involve emotions. Our strategy should be calculated and pre-planned.

3. Avoid revenge trading. Try to control your emotions. Practice your strategies well.

ScamViruS

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Quote from: Obari on December 31, 2022, 12:24:47 PM

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 ?

After making multiple losses, a thought comes to the mind of the traders as to how they will recover those losses. And they chase to take profitable trades to cover those losses, but their efforts can often lead to more losses. And for this revenge trading, it actually affects the traders more emotionally. I have experienced such situations and I realized that revenge trading does not take long to washout a trader's account.

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Quote from: bounceback on January 12, 2023, 11:23:16 AM

Quote from: Obari on December 31, 2022, 12:24:47 PM

-snip-
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 ?

If someone wants to do revenge trading, then usually they will only get even bigger losses, maybe many people think that by doing this they will be able to cover the initial losses they received, but in fact it is the opposite, because when trading revenge revenge no longer pays attention to risk and no longer relies on precise strategies that must be applied when trading as usual so that it results in further losses, in my opinion it is highly not recommended for anyone when they experience defeat to take revenge.

with no emotional control when trading, it will increase the risk of continued trading. trade for the amount you are prepared to lose. if you want revenge, I think it has to be a contemplation of the strategic mistakes made. instead of shocking with emotion. I'll bet, people who trade like that will never be satisfied with what has been achieved.

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Quote from: Obari on December 31, 2022, 12:24:47 PM

-snip-
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 ?

If someone wants to do revenge trading, then usually they will only get even bigger losses, maybe many people think that by doing this they will be able to cover the initial losses they received, but in fact it is the opposite, because when trading revenge revenge no longer pays attention to risk and no longer relies on precise strategies that must be applied when trading as usual so that it results in further losses, in my opinion it is highly not recommended for anyone when they experience defeat to take revenge.

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Quote from: FanEagle on January 10, 2023, 05:51:34 PM

Too many people did this during 2022 bear run and too many people lost. We should not be revenge trading, there is no return on that and you are going to end up being unhappy because of it, no need to do it at all.

I personally believe that a loss is a loss and you should get over it, it's normal and when trading you can't always make profits because that is literally impossible, but if you have a loss at least learn from it. Then you start to trade normally again, it would definitely help you out a lot, it should be pretty awesome in the end. That's just my understanding of the market, just keep doing the way you normally do, no matter what the results are, and don't get emotional about it.

When you do lost then you should move on and then reassess on where you have done something wrong but it would really be mind boggling because you would really be seeing that it was just right but

still a losing trade.You should be putting up into your mind that market is truly that unpredictable and there's no way that we could guarantee out our analysis no matter how good it would be.
Just dont make yourself that desperate so that you wont really be anticipating positive results towards your trading and wont really be that impulsive
when it comes to your emotion which would cause up that revenge trading.

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Too many people did this during 2022 bear run and too many people lost. We should not be revenge trading, there is no return on that and you are going to end up being unhappy because of it, no need to do it at all.

I personally believe that a loss is a loss and you should get over it, it's normal and when trading you can't always make profits because that is literally impossible, but if you have a loss at least learn from it. Then you start to trade normally again, it would definitely help you out a lot, it should be pretty awesome in the end. That's just my understanding of the market, just keep doing the way you normally do, no matter what the results are, and don't get emotional about it.

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Quote from: milewilda on January 08, 2023, 04:59:30 PM

Quote from: Obari on December 31, 2022, 12:24:47 PM

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 or having that kind of trying out to chase up your losses or trying to break even is something not really that recommendable because it does really shows up on about on being that impulsive
when it comes to your emotions if you are really that acting on this way which is really a huge mistake.We cant really deny out that on the time that we do lost on a particular trade then we would be mainly
be minding about on how to get those losses back which it is a common reaction but most cases people do lost off track in regarding with their analysis on which they would really be that ending
up on being desperate when it comes to their actions which its never been something like that a wise move to be done.

You could simply turn your trading into gambling with that kind attitude indeed.

A very bad idea involving your inner ambition as you failed at the first attempt then trying again in the second , third and so on ... that could be an endless cycle and dangerous thing to do , you better set the reasonable goal and chase it in reasonable ways as well. Don't get too ambitious .. you are in a wrong place if you do so.

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Quote from: milewilda on January 08, 2023, 04:59:30 PM

Quote from: Obari on December 31, 2022, 12:24:47 PM

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 or having that kind of trying out to chase up your losses or trying to break even is something not really that recommendable because it does really shows up on about on being that impulsive
when it comes to your emotions if you are really that acting on this way which is really a huge mistake.We cant really deny out that on the time that we do lost on a particular trade then we would be mainly
be minding about on how to get those losses back which it is a common reaction but most cases people do lost off track in regarding with their analysis on which they would really be that ending
up on being desperate when it comes to their actions which its never been something like that a wise move to be done.

Is not good at all, chasing losses leads to losing more in the end. Emotions - this is a big problem with most new traders and makes them get out of their positive approach to the market.
If we wanted to get back our losses in the past, it is better to focus on improving our knowledge and trading skills instead of thinking about a revenge attack. There are 3 things we need to do in order to make it possible in trading - correct our mistakes, be patient, and learn to adopt the situation.

milewilda

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Quote from: Obari on December 31, 2022, 12:24:47 PM

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 or having that kind of trying out to chase up your losses or trying to break even is something not really that recommendable because it does really shows up on about on being that impulsive
when it comes to your emotions if you are really that acting on this way which is really a huge mistake.We cant really deny out that on the time that we do lost on a particular trade then we would be mainly
be minding about on how to get those losses back which it is a common reaction but most cases people do lost off track in regarding with their analysis on which they would really be that ending
up on being desperate when it comes to their actions which its never been something like that a wise move to be done.

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Quote from: Obari on December 31, 2022, 12:24:47 PM

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 ?

It is a form of gambling. It is like losing $50k playing dice then wagering $50k more to take the first $50k back. Of course 99 times out of 100 the player loses his second $50k too and ends up losing $100k.

You can avoid these situations only if you invest/trade/gamble with the money which can afford to lose. Otherwise you are going to create a situation where you will make more mistakes like the guy in the example I gave you above.

Always have a back up plan and that plan shouldn't be the same plan which made you lose money.

Quote

I lost money trading "shitcoin A". I need to trade "shitcoin B" to make up for my losses from trading "shitcoin A".

^Big No no.

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Quote from: Obari on December 31, 2022, 12:24:47 PM

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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Quote from: Obari on December 31, 2022, 12:24:47 PM

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.

maydna

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Quote from: irhact on January 05, 2023, 03:08:04 PM

Quote from: maydna on January 05, 2023, 10:51:38 AM

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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Quote from: maydna on January 05, 2023, 10:51:38 AM

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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Quote from: Questat on January 05, 2023, 10:19:30 AM

Quote from: Obari on December 31, 2022, 12:24:47 PM

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.

maydna

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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.

Topic: What are your thoughts on revenge trading? - page 3. (Read 780 times)