The Revenge Trade

Discussion in 'Psychology' started by sniper, Oct 23, 2010.

  1. BartS

    BartS

    I think there were a few very good comments made in this thread.

    I had massive discipline and anger issues - actually throwing shit around my office when in bad trades....Took a break, finally wrote a trading plan and decided on a very selective list of trades to follow...

    I don't get angry any more.
    I take every trade that fits my criteria, and accept that there is a certain amount of money that it will cost me to find out if the idea is valid.

    Basically in my head I no longer have that amount of money, and I can only get it back if my idea works out....So I don't stress, and if i take a loss it is only because the market did not make the money availible to me at this very moment.....that's it.

    If I take 3 losing trades in a row - done for the day.

    Making it back - nah....There's nothing to make back, you ran your business and this just happened to be the day you had to pay some bills....

    When the right setups come back up, I will be involved and i will make money.

    Why stress.???
     
    #11     Oct 28, 2010