Quote from: Lanatsa on January 25, 2023, 10:57:41 PM

Quote from: TheUltraElite on January 25, 2023, 05:15:30 PM

Quote from: palle11 on January 19, 2023, 02:59:46 PM

Inexperienced traders are those who still practice revenge trading. It is better to let lost money go and focus on the future and that is why the chart is analysed for the future happening. Go to the market fresh after every closed trade and not to feel that you want to get back what was lost, you are going to allow your emotions decide what you should do instead of having a good grasp of the market analysis.

Controlling emotions is not important but necessary in trading, otherwise its going downhill no matter what. Most newbies are making this mistake more often than it gets reported on this forum but I guess veteran traders are also prone to making the same. So it should be a lesson for every one who is involved in actively trading at current times.

No amount of emotionally driven trades would recover money lost. In spot trading you still own the opposite asset which you can sell in future, so all is not lost. In other forms of trading, which is basically an EV- game, you are out of luck and you should not try to chase the loss.

Emotional handling is really that very crucial and not only on trading but also in other aspects in life too on which you should really be having that good control of it because if not then you would really be finding

yourself into big or deep trouble just because you had just become that impulsive in towards your decisions just because you had just let out that emotion control your mind
which it would really be that normal that you would be trying out to find on what are the sensible things to be done.

Dont make yourself find out on having that revenge emotion because it would really just mess up entirely your analysis.

If you let your emotions control you, you'll get into a lot of trouble. For example, if you feel happy spending money on wants, if you let that happiness ruin you, you'll keep buying things. Similarly, if you are greedy and get overwhelmed by winnings or losses, you will now trade with larger lot sizes. I've read also in a book that we should act like machines or computers, where no emotions kick in, only algorithms, and find the best solutions to a particular situation. If we can really do that, we won't get into any trouble.