Revenge After Loss and Overconfidence After Profit
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Thread: Revenge After Loss and Overconfidence After Profit

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    Revenge After Loss and Overconfidence After Profit

    I know many traders fail because a fatal error. after learning trading strategy and money management , there is a very important thing to be learned controls emotions. controlling emotions is part of trading psychology, and can be learned only in a real account.
    many traders successful in the demo account, but failed in the real account, this is a serious problem. traders is not enough just to learn in a demo account.
    now I have a problem in real account, if I got the loss, then I would open position using a large lot size, I want to get a big profit, but what happened? I've got a big loss because my revenge. if I get a profit, then I open position again and again, and endless profits are down, even got a loss.
    traders should always keep emotions in order to always have a stable emotions, discipline on the rule of trading systems and money management

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    According to me both these categories are harmful for a trader. No matter you are recovering your profit at once after loss and becoming over confident after making some money it will give you always loss in your trading first of all I want to tell everyone that there is no need take any revenge after loss because loosing money is very common in forex and regarding confidence level I want to say that our confidence level neither should be very low and neither should be very high its very important to maintain a good level of confidence in forex

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    Quote Originally Posted by forexlearner View Post
    According to me both these categories are harmful for a trader. No matter you are recovering your profit at once after loss and becoming over confident after making some money it will give you always loss in your trading first of all I want to tell everyone that there is no need take any revenge after loss because loosing money is very common in forex and regarding confidence level I want to say that our confidence level neither should be very low and neither should be very high its very important to maintain a good level of confidence in forex
    I had a bad experience, because revenge and over convidence, I share with many traders, and they had the same experience with me. when we know revenge and over convidence very dangerous, but when we are trading, then we will forget the rules of trading. This is a trading disease, and fatal error, causing great loss, even many traders got a stop out because of this problem. if you do not have an experience like this, I believe you are a good trader

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    It is very good to have good trading accumulation, but never you try to let emotion affect your decision after getting some losses in the market. The traders that are successful will always lose, but they will never let what they face in the market affect their conclusion of moving forward. You should be disciplined, and managerial in nature.

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    Quote Originally Posted by silverlady View Post
    It is very good to have good trading accumulation, but never you try to let emotion affect your decision after getting some losses in the market. The traders that are successful will always lose, but they will never let what they face in the market affect their conclusion of moving forward. You should be disciplined, and managerial in nature.
    traders can learn from the loss, so that traders are in need of evaluation to determine the error. if you have an error analysis, you can go back to the trading system. but if you have an error caused because the psychology of trading, then you will be hard to get a solution. you need a break and have a healthy mind. on Saturday week you can picnic or sports that you have a healthy psychology

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    Quote Originally Posted by ngalapreceh View Post
    I know many traders fail because a fatal error. after learning trading strategy and money management , there is a very important thing to be learned controls emotions. controlling emotions is part of trading psychology, and can be learned only in a real account.
    many traders successful in the demo account, but failed in the real account, this is a serious problem. traders is not enough just to learn in a demo account.
    now I have a problem in real account, if I got the loss, then I would open position using a large lot size, I want to get a big profit, but what happened? I've got a big loss because my revenge. if I get a profit, then I open position again and again, and endless profits are down, even got a loss.
    traders should always keep emotions in order to always have a stable emotions, discipline on the rule of trading systems and money management
    It is happened to me when I was still difficult to control emotions in trading, if you are still difficult to get out of this problem, then you should change your way in trading, what I do to get out of this problem? I am trying to change the style of trading with long-term trade, and after one year of my long-term trade, then I go back to the short-term trading, I automatically get a significant change in the control of emotions, this means I really get psychological changed completely, it just my own experience.

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    If you lose, be patient. If you win, stay humble

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    Registered user Hukam's Avatar
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    You are saying right mate we need our own experience to control our emotion until we will not do any practical to handle our emotion till then we will not be able to know about it properly I think emotion can make anybody poor in this business. The best thing will be to not take revenge after a loss and we have to maintain proper trading rules, along with it we have to stick with our trading strategy always

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    Loosing money is very common thing in forex but most of all new trader's take it very seriously and try to take big lot size to convert their losses into profits but I think this strategy will never work in forex. The best thing will be to don't focus much on recovering your losses because it will give you a lot of pain try to use proper trading plan and stick to your trading strategy every time

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    That's already happened to me 2 time so far but now I don't have to any mistake like that. Some time it become very difficult to control our greed and emotion. I am making a very good trading plan for that and I am sure that in near future I will able to do a very good trading with my strategy a good self control can help us to get rid off from this problem

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    i guess almost of us ever got this situation. some of us do not want to get losing and wanted to get the best result but the emotion stay in mind and it is easier triggered by many situations. losing and winning and at last sone if us was trapped by them with took revenge also over confidence.
    the traders need to control this situation or if let it . it becomes the biggest obstacle for us to grow up

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