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Thread: Revenge After Loss and Overconfidence After Profit

  1. #1
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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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  2. #21
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    It is good to have your account recovered, not by having revenge, it is by making a better trading in the manner that will bring success to your doorsteps. No matter what you are doing, try more carefully in doing it, and by that, the success will be yours. Never use ego or over confidence in the forex market.

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  3. #22
    Trader rinaji's Avatar
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    Quote Originally Posted by silverlady View Post
    It is good to have your account recovered, not by having revenge, it is by making a better trading in the manner that will bring success to your doorsteps. No matter what you are doing, try more carefully in doing it, and by that, the success will be yours. Never use ego or over confidence in the forex market.
    I do not remember how many times I take revenge on the market after I get a big loss, or loss in a row. And in the end I always get stop out. Revenge is a bad habit that occurs due to the influence of emotional after we get a loss, it will be difficult for us to avoid if we do not impose to stop trade and turn off trading devices.

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

  4. #23
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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
    Actually these problems are found in millions of traders. I myself faced this problem in my early days in forex trade. When you face loss in any of your trade you try to recover your loss in quick time and generally face more loss in trade. At that moment you forget your basics in trade and only driven by your emotions. It is dangerous period and you can lose all the money that you have earned in a month. So it is wise to keep money management in your trade so that if you lose 3/4 trades in a row, still you will have enough money to trade few more. And never ever try to take revenge of your loss taking high risk. If you trade wisely your loss will be recovered soon without taking too much risk in your trades.

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  5. #24
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    Quote Originally Posted by rinaji View Post
    I do not remember how many times I take revenge on the market after I get a big loss, or loss in a row. And in the end I always get stop out. Revenge is a bad habit that occurs due to the influence of emotional after we get a loss, it will be difficult for us to avoid if we do not impose to stop trade and turn off trading devices.
    I had same experience with you, I've suffered losses many times because I take revenge although I ever got profit and recover previous losses when I take revenge too. But if I compare the percentage to gain profit and suffer loss, I think loss experience is more than profit so I decide that taking revenge is not good idea in trading. I think you're right that taking revenge is bad habit. Good trading plan will help me remove this bad habit.

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  6. #25
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    You do not have to be trading recklessly in the market, if you trade recklessly, you will never find the good trading earning. You need to plans and strategize in the market, that is the way by which you will have the best in the market. It takes time, but it is worth it if a trader could do it actively right. Ne revenge your trades

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  7. #26
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    Quote Originally Posted by yasir arafat View Post
    over confident is a bad habit for a forex trader.because forex market is changing his way anytime.so if you feel over confident you can be a loss trader.so try to avoid this on your successful trading.
    I think overconfident is not habit but many times, we don't realize it that we are overconfident. If you have known that you're overconfident but you still enforced yourself to use high lot so it is your own fault and it is called greed. In many conditions, the difference between confident and overconfident is so slight and this condition which can make trader to face unwanted loss. The best thing to control our risk is using money management and risk management so we won't lose too much although we are overconfident without realize it.

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  8. #27
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    Overconfidence is not good at all many time I lost my fund due to overconfidence and many time I tried to take the revenge from the market because of heavy loss I never able to take good decision and because of emotion I do same mistake again and again. Frankly speaking its very hard to control our emotion and not very easy at all

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  9. #28
    Trader Hukam's Avatar
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    Yeah dear most of trader's try to take revenge and they do aggressive trading in forex. I think every trade face this problem even I also faced this type of problem many time and lost my fund by it. I think we should never loose our hope and should try to learn from our mistakes there is no need to cover your losses by taking big lot sizes just focus on good learning

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  10. #29
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    for them who did trading with revenge, means , they can not control the emotion and have not yet ready to accept the reality, and if they do trading under the emotion and let it drive the mind, they just increase some problems and even will get the worst one,
    so it is better to accept the results with gracefully, where there is no emotion in there, with fresh mind, cool and calm, they will know how to fix the problems and step by step they can replace some loses with profit

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  11. #30
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    Quote Originally Posted by Hukam View Post
    Yeah dear most of trader's try to take revenge and they do aggressive trading in forex. I think every trade face this problem even I also faced this type of problem many time and lost my fund by it. I think we should never loose our hope and should try to learn from our mistakes there is no need to cover your losses by taking big lot sizes just focus on good learning
    I see you have a lot of bonuses communicative, I think you can apply good money management. with sufficient balance, you can avoid revenge, because you can apply money management. do not waste your bonus, you should start Tading, and implement your trading strategy. You are a trader and not the poster. I hope you can begin to get profit from your tradig

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