Revenge trading—continuing to trade after an initial loss in an attempt to recover losses—typically leads to progressively worse outcomes and can ruin a trader's account; the proper response to a loss is to accept it, exit the trade immediately, and walk away rather than trying to recover.
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How to ruin yourself as a traderAdded:
Here's an example of it, and getting your results takes such a long time.
It's not worth doing anything silly.
You can't stop yourself, and you're going to ruin yourself.
Just out of curiosity, RJ, was that one trade and [music] spike or multiple?
>> I think it was one at the start, and he tried to recover, revenge trading.
What could have happened is he he recognized he didn't have the stop, it popped, exit the trade straight away, and then [ __ ] walk away with the loss. But, he didn't, kept going, kept trying to recover, and made it even worse.
And then worse, and then worse, and then worse. Cuz you seriously don't know if you're against what happened on Friday, if you're against that, you're screwed.
Try to sell that all the way up, you're absolutely screwed. I mean, it has come back. How deep are your pockets, really? How deep are they?
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