As they say: hope dies last. Therefore, such people will continue to try to trade with the desire to compensate for their previous losses, without changing anything in their trading and trading strategy, they are simply driven by excitement. People also come to the casino after previous losses and continue to play and lose again. There are such gambling people on Forex too.
I agree with this comparison. Many traders fall into the trap of emotional trading, similar to gambling, where they try to recover previous losses by repeating the same mistakes without adjusting their strategy. This behavior, driven by excitement or desperation, can lead to a cycle of continuous losses, much like gambling in a casino. In forex trading, discipline, risk management, and the ability to learn from mistakes are critical to breaking this cycle. Without these, traders are more likely to be driven by hope rather than strategy, which increases the likelihood of failure.
I think that no amount of hope will help when you cannot analyze the market correctly and consciously violate risks in order to make more money in a short period of time. In forex, first of all, you need to be able to wait until all the conditions from your strategy are formed for a reasonable and balanced entry into the market, and not trade whenever you want, as is done in a casino.
Honestly, I think it’s a mix of hope and determination. Many traders believe they can turn things around and recover their losses, which keeps them coming back. It’s not necessarily addiction, but more of a belief that the next trade might be the breakthrough. That said, it’s crucial to step back, reevaluate strategies, and approach trading with discipline rather than emotions. Sometimes, walking away temporarily to reset can make all the difference.
I agree. Taking short breaks during losses can really help you come back even stronger, with more focus and a clear plan in mind while executing trades. What do you do during losses?
Forex can feel addictive due to the hope of recovery and the thrill of trading. Discipline, risk management, and knowing when to stop are key to avoiding this trap.
You are right. If you are unable to trade profitably or have a large number of losing trades, then I see no point in continuing to trade. But, in my opinion, you need not only to rest, but also to try to analyze your unsuccessful trades and find their causes in order to be able to improve and optimize your strategy so as not to repeat such similar mistakes in the future.
Trading isn't gambling; success needs discipline, strategy, and learning from losses, not emotional revenge trading.