Revenge
Just like in sports or any other kind of game, revenge will always be a natural
emotion. If you lose a trade, you will more than likely have a feeling of getting the
money back. This is what we call revenge. To get rid of this feeling, you must make
sure that your mind is fully with you on the "no trade is certain" thought.
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Revenge when trading in forex[/caption]
As mentioned before, any trade can lose ANY! And that doesn't have to be your fault,
even when your analyses were on point and all confluences were fulfilled; It could
still happen that your trade turns into a loss. This can be occurred by the most insane
events. Think of war, natural disasters or certain economic crashes etc. etc. But as
you already know, we don't have to stress about 1 loss as we handle a decent risk
and money management strategy. The dumbest thing you can do after losing a trade,
isjumping straight onto another one. More than likely, this trade opportunity didn't
suit in your trading plan which would make it a very risky trade. The whole idea about
it is that you will lose more when trading with revenge. The losses will get bigger and
bigger and, therefore, it won't take long to wipe out your whole account balance.
Revenge is an emotion which is triggered by any kind of loss. It's a human emotion
which is there since the existence of mankind. When you're feeling this emotion, you
will often make bad decisions. In Trading, this is the last thing we want. You only
want to make well considered decisions which fully suit in your trading plan. Actions
based on revenge will definitely bring you down as a Forex trader. KEEP CONTROL!
Revenge will turn you into a bad mood, which will definitely count you to the 90% of
losing traders on the market. if you want to count yourself in with the 10% winning,
you should be persistent and you will need to put in hard work; But more important
leave your emotions at home.
”Weak people revenge, strong_people ignore
The following article Psychology: Revenge Trading Manual Part 17 was originally seen on: Online Review Network Service Blog
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