Of recent, I've come across alot of people talking about traders chasing their losses which at the end, leads to possible blowing of accounts.
I understand that people trade with expections and most times when this expectations aren't met, they try as much as possible to chase after their losses and my questions are
~ what is your take on revenge trading?
~ Do you think people intentionally go into revenge trading or is is just emotional?
~ what will you advise someone making series of losses ?
Revenge trading is the worst thing that you can do to yourself and your account as well. Trading is a test of your emotional intelligence and patience. Things like revenge trading will only make you do hasty decision making nothing other than that. Which will give you even more losses and you'll become even more hungry for revenge and go into even more loss this cycle would continue until you blow your account.
Iam a victim of revenge trading unfortunately it had done more harm to my account than good, after some losing streaks I do embark on revenge trading due to emotion while deviating from my main trading strategy in most cases I blew up my account and have to start afresh, I believe this often common among newbies In a bid to recover losses swiftly, though I always trade with the amount of money I can afford to lose, obviously to be successful in trading one has be well disciplined to overcome any form of emotion and also avoid changing trading strategy.