Confessions of a revenge trader

[hard kore]

Quote from Learning2Trade:

My problem is that I can't take a loss.

“A losing trader can do little to transform himself into a winning trader. A losing trader is not going to want to transform himself.
That’s the kind of thing winning traders do.”


“The elements of good trading are: 1, cutting losses. 2, cutting losses. And 3, cutting losses.

If you can follow these three rules, you may have a chance.”

 

[murray t turtle]

Quote from FCXoptions:

I have had some bad days where I have revenge traded as well. The majority of the times I do it are after have several good executions and then I will make a screw up like forget to cancel an old stop or limit order, I will screw up and then be like "oh well I will just triple my size and recover it instead of sticking to the plan. This kind of looks like a setup....yea works for me I am taking it" And then my entire gain for the day is gone plus a whole lot more.

Needless to say I am working on NOT doing this anymore as well. Just stick to the plan, pound it in your head

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Good points,FC-Options;
revenge trading is one of the WORST things anyone can do because equity trends tend to trend 2[aslo,LOL


Wisdom is profitable to direct