Revenge trading

[Joman]

It can help to identify the reasons why you're revenge trading:

- are you focused on your PnL ?
=> be focused on trading well your setup instead.

- you want to get back your loss immediately ?
=> focus on the long term and imagine all the opportunities that will rise and the robustness of your trading plan.

- Are you frustrated and angry ?
=> remember you best trade when you feel relax, calm and confident.

- You don't accept your losses ?
=> losses are part of the game and a great way to learn: "love your losses"

Everyone has these kind of moments and I think the real strength is not to avoid them (almost impossible) but the speed at which you recover and reverse your state of mind.

Meditation also helps to detach from your ego and to focus on what is happening now regardless of your emotions.

 

[Went Fishing]

Quote from turkeyneck:
How do you avoid revenge trading when you are experiencing drawdown? The urge to get yourself out of the hole ASAP is so big...

My short answer is, I remember how hard it was to get myself out of the deepest hole I ever dug. My long answer would be word for word what wrbtrader wrote.

 

[NoDoji]

Quote from ammo:

doj,really enjoying your posts,what a great student you are,what did you do before starting trading,your mind is a steel trap,thanks for sharing your stuff

You're welcome, Ammo, and special thanks to you for demonstrating awesome trading professionalism every day on this site!

Before trading I wore many hats in my business - bookkeeping, technical writing, software testing, training. I've always had a very good memory, but now that I'm getting older, I think stuff is starting to fall out of my brain