Revenge trading is mainly driven by the fear of being wrong. It’s usually when a trader, coming from a particularly frustrating loss, decides to make up for it by being more aggressive in his/her next trades.
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In the emotion of revenge trading sometimes you get crazy at the market and try to get your losses back in an emotional way instead of a rational and logical way and in this way, you are viewing the markets through your emotional filters and not are the best state to be trading mind in this way you will make more trading mistakes. For Best Forex Signals www.equidiousresearch.com
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1 Step Out And Clear Your Head Aft er A Frustrati ng Loss:
Do non-trading related activities and come back only once you’ve acknowledged that losing is part of the game. For Best Forex Signals www.equidiousresearch.com
2 Document the reasons why you lost your trade:
Identifying what went wrong with your trade and focusing on improving your trading process helps lessen the feeling that the market is against you. For Best Forex Signals www.equidiousresearch.com
3 Take note of your trig gers and tells on your trading journal:
Do you do it when you’re trading big positions or when you got taken out by unexpected catalysts? Knowing your triggers helps you prevent yourself from taking on more revenge trades. For Best Forex Signals www.equidiousresearch.com
4 Trust in your system! If you’ve tested your system and follow your trading plan 100%, then you won’t mind the losses much because you know that the end numbers will add up in your favor in the end. For Best Forex Signals www.equidiousresearch.com
4 Practi ce risk management: If you make risk management a habit, then you’ll have better trading discipline and are less likely to take impulsive trades. If you’re not used to it yet though, then you can start with following strict rules on position sizes and trade duration. For Best Forex Signals www.equidiousresearch.com
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