[fusion_builder_container hundred_percent=”no” equal_height_columns=”no” menu_anchor=”” hide_on_mobile=”small-visibility,medium-visibility,large-visibility” class=”” id=”” background_color=”” background_image=”” background_position=”center center” background_repeat=”no-repeat” fade=”no” background_parallax=”none” parallax_speed=”0.3″ video_mp4=”” video_webm=”” video_ogv=”” video_url=”” video_aspect_ratio=”16:9″ video_loop=”yes” video_mute=”yes” overlay_color=”” video_preview_image=”” border_size=”” border_color=”” border_style=”solid” padding_top=”” padding_bottom=”” padding_left=”” padding_right=””][fusion_builder_row][fusion_builder_column type=”1_1″ layout=”1_1″ background_position=”left top” background_color=”” border_size=”” border_color=”” border_style=”solid” border_position=”all” spacing=”yes” background_image=”” background_repeat=”no-repeat” padding=”” margin_top=”0px” margin_bottom=”0px” class=”” id=”” animation_type=”” animation_speed=”0.3″ animation_direction=”left” hide_on_mobile=”small-visibility,medium-visibility,large-visibility” center_content=”no” last=”no” min_height=”” hover_type=”none” link=””][fusion_text]I want to talk to you guys about a taboo topic — the “revenge” trade. We’ve all been there many times before. We start the day out with a decent sized loss and — being the weak mental creatures that we are — it feels like getting punched in the face. Worst of all, it typically happens when we make an emotional read on the trade instead of waiting for the proper setup.
What happens next is critical. Most seasoned traders will recognize a loss for what it is — the cost of doing business. We don’t care when the loss occurred, we just care about the next setup to make it back. The only question is whether it will come in 2 minutes, 2 hours, or 2 days.
But the new trader usually has a different outlook. The initial loss can be a mental death blow that gets you thinking, “Uhoh, here we go again.” Your emotional levels start to rise and your bravado goes off the charts. You think, “F this, I’m making it back right now.”
The theory behind this is actually correct. It’s better to be alert for your next opportunity rather than letting one trade dictate the rest of the day. Here’s the problem: Premium set-ups don’t come along every 10 minutes like a city bus. Most new traders decide to go “all in” on a 2nd or 3rd tier setup and their day goes from a paper cut to a severed head.
Trading is all about the process. The dreaded “revenge” trade is the ultimate no-no because you should never trade when you’re emotionally unstable. Being consistently profitable as a trader requires you to leave your emotions at the door. If your initial reaction is anger or depression, it’s probably wise to reduce your losses and sit it out for a minute. Take a deep breath, relax, and wait for the next premium hand to play. That’s the discipline that makes a successful trader.
So when’s the best time to take a “revenge” trade? NEVER!!!
Happy trading.[/fusion_text][/fusion_builder_column][/fusion_builder_row][/fusion_builder_container][fusion_builder_container admin_label=”” hundred_percent=”no” equal_height_columns=”no” menu_anchor=”” hide_on_mobile=”small-visibility,medium-visibility,large-visibility” class=”” id=”” background_color=”#074b6b” background_image=”” background_position=”center center” background_repeat=”no-repeat” fade=”no” background_parallax=”none” enable_mobile=”no” parallax_speed=”0.3″ video_mp4=”” video_webm=”” video_ogv=”” video_url=”” video_aspect_ratio=”16:9″ video_loop=”yes” video_mute=”yes” video_preview_image=”” border_size=”” border_color=”” border_style=”solid” margin_top=”” margin_bottom=”” padding_top=”10px” padding_right=”” padding_bottom=”10px” padding_left=””][fusion_builder_row][fusion_builder_column type=”1_1″ layout=”2_3″ spacing=”” center_content=”no” hover_type=”none” link=”” min_height=”” hide_on_mobile=”small-visibility,medium-visibility,large-visibility” class=”” id=”” background_color=”rgba(255,255,255,0)” background_image=”” background_position=”left top” undefined=”” background_repeat=”no-repeat” border_size=”0″ border_color=”” border_style=”solid” border_position=”all” padding=”20px 60px 20px 60px” margin_top=”” margin_bottom=”” animation_type=”” animation_direction=”left” animation_speed=”0.3″ animation_offset=”” last=”no”][fusion_text]
Ready to level up your trading and improve your win rates?
[/fusion_text][fusion_button link=”https://go.accessatrader.com/apply” title=”” target=”_self” link_attributes=”” alignment=”center” modal=”” hide_on_mobile=”small-visibility,medium-visibility,large-visibility” class=”” id=”” color=”default” button_gradient_top_color=”” button_gradient_bottom_color=”” button_gradient_top_color_hover=”” button_gradient_bottom_color_hover=”” accent_color=”” accent_hover_color=”” type=”” bevel_color=”” border_width=”” size=”large” stretch=”default” shape=”” icon=”” icon_position=”left” icon_divider=”no” animation_type=”” animation_direction=”left” animation_speed=”0.3″ animation_offset=””]click here[/fusion_button][/fusion_builder_column][/fusion_builder_row][/fusion_builder_container]