We all know how profitable trading can be and how frustrating it can too, but nevertheless never try to get back at the market.
Just because you've lost a lot doesn't mean you next strategy is getting back all your losses on one piece . No!
First of all you have to see to it that you are psychologically prepared to trade, you need to build confidence..
No matter how much you've lost you need to take a break, get your mind off do something that can help build confidence, restrategize
Trade risk free, trade like you haven't had any losses not like a gambler.
A friend of mine who lost hope in trading was advicing some one else , he said " if you wanna go into trading you need to have a family doctor close by"😂
I laughed my eyes out, but in order to avoid the same ordeal he went through I learnt to trade this way, I make sure I bear in mind that no matter the outcome I'm ready for it .
This is how you trade, it's all about composure, belief etc.
Revenge trade is the worse and yet un profitable form of trading that any trade would want to engage in, it also shows how unprofessional and unexperienced a trader is, this can also express how one isn't disciplined too aswell, but if the trader is disciplined enough, they will be able to accept losses when it comes and also be able to take profits in such a way that it wouldn't be get to them in a way they would want to try out some more risk when its not necessary.
The fried of yours who was giving out such advise may be more of an emotional trader, such persons are those who are likely to make such comment because some how, they see trading as a gimmick and fail to understand that there can be more to trading than just coming on the charts and placing trades and hope to make profits of the trades they have placed over the times they did placed the trade. If you have been able to imbibe good discipline and trading habits, then you may not be needing to think of trading in that way. take charge of your emotions and get trading even better such that you will not be having to fear about having a doctor around.