Good-Guy
VIP Contributor
Revenge trading is a very popular concept in the trading markets. Revenge trading involves trading to "win back" the money you lost in the Forex market or any other kind of market that involves trading any kind of asset. This may also be Bitcoin, or stocks as well. Revenge trading is a psychological problem. When a trader loses money in the market, they usually start planning to get the money back they lost. So, what are some of the main ways you can stop this from happening?
Understanding revenge trading
First of all, you must understand that revenge trading could actually do more harm than good. Revenge trading may impair your ability to think properly. This is why it is very crucial to understand the fact that this cycle should be stopped. You can even consult a trading psychologist who may assist you.
Create a better strategy next time
This is also one of the most crucial steps out there. If you want to make money in the markets, then you must create a better strategy to win the money back. Forget about the money you lost as a result of trading. Instead you must focus more on making money and that is the best "revenge".
Understanding revenge trading
First of all, you must understand that revenge trading could actually do more harm than good. Revenge trading may impair your ability to think properly. This is why it is very crucial to understand the fact that this cycle should be stopped. You can even consult a trading psychologist who may assist you.
Create a better strategy next time
This is also one of the most crucial steps out there. If you want to make money in the markets, then you must create a better strategy to win the money back. Forget about the money you lost as a result of trading. Instead you must focus more on making money and that is the best "revenge".