Trading Psychology Podcast Ep20: Revenge Trading

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When you hear "Revenge Trading", what comes to mind? It has more than one definition. At least to VP and Robb it does. Either way, it's an account killer, so we identify it further and as always, provide solutions to eliminate it.
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The hosts of this podcast are not licensed financial advisors, and nothing heard on this podcast should be taken as financial advice. Do your own research and understand all financial decisions and the results therein are yours and yours alone. The host is not responsible for the actions of their sponsors and/or affiliates. Conversely, views expressed on this podcast are that of the host only and may not reflect the views of any companies mentioned. Trading anything involves risk. Losses can exceed deposits.
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Опубликовано:

30 сен 2024

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Комментарии : 43

@vkdrk Год назад

I always remind myself that ''taking a break is cheaper than forcing a trade''

@MbaliMbuyisa-ns5mi 4 месяца назад

This podcast is Soo underated... thanks Soo much

@archravenineteenseventeen Год назад

This also can be apply to life outside trading. Love relationship, work related, business related, friends, family and even video games. Bad beat is indeed a thing. The only thing that is your enemy is not the world but you and yourself alone.

@christovorster4552 2 месяца назад

Been trading 3 months. And oooh boy you talking to me in person. All the mistakes i've been making - being explained. Appreciated 🙏

@StaVykoV Год назад

Thank you so much guys! This is great content. I'm so glad that VP decided to continue with the psychology videos, even thou they were had the worst view count back in the day. They are indeed the most important. Trading can be done with hundreds of different algos and styles, but the psychology is the same and is the hardest thing to master.

@mariocrooks7538 Год назад

As i get the account i got a job and i was doing great up until then. Then the work change my routine and i was forcing trades all over the place untill i loss the account

@Juhno Год назад

Great podcast again. And I smiled a little... I have a sister too... And I'll remember for the rest of my life when I tilted. I was visiting my parents and decided to trade a bit. And I effed so bad in 4 hours. I traded, traded, traded... lost, lost lost. And at the same time, there were visiting relatives in the next room, drinking coffee, eating pastries and laughing. ..like they were laughing at me. And all I wanted to do was curl up... and puke. The only thing that saved me was that I had transferred relatively little money to my trading account.

@NoNonsenseForex Год назад

Oh ya, the paranoia stage is a doozy

@lokone303 Год назад

i have been knocked out from a trade by less than 1 pip, while doing my volatility based intrady estrategy, sooooo many times, the tilt still comes to my mind, but, i made up tons of automatic reactive toughts to procede to the next trade following the system. One thing that helps, is, i only apply this system during 3h a day, 3 days a week, no matter what. Not feeling the need to be on a trade anymore after 5 years, helps a lot, i love when markets are silly and dont let me trade, feels like a free day :D

@lindalinda6300 Год назад

You guys are really amazing and super helpful. Can't thank you guys enough!! So, it's called being on tilt, lol I honestly used to think I'm possessed or something because once you are on tilt, nothing can stop you. I couldn't think straight, despite having sticky notes Infront of me and on my laptop, having a white board next to me, CLEARLY WRITTEN ''DONTS OR AVOID THIS'' still didn't help, it's usually like something has taken over your body. I once went to church and asked a pastor to pray for me because I honestly thought I was possessed because that was definitely not me when I was on tilt, I'm getting better and the walking after a loss has really helped me massively.

@bakemonking Год назад

I'm currently struggling with this. Like you said, 'possessed'.

@ramoretrac Год назад

Mr smooth...I'm coming to see you !! I don't revenge trade...I win...bottom line...

@ferrod15 Год назад

J-type here .. this is a life saver. Thanks guys! Keep up the good work.

@meshakomondi1841 Год назад

Vp and Robb at it again.

@vadivelt4811 Год назад

I removed all jpy pairs 😂

@brewcitypunk Год назад

VP. still grinding in the midwest. working on big picture algorithms that may disappoint in the short term, but in the long game are quite successful. robb is like an alien regarding the NNFX world. trading news events? 15 minute chart? taking a walk while i have a 5 minute trade open? complete balderdash!!!! but his experience and wisdom also add to my confidence and learning process i am still in and will continue to always be. we don't know shit. thanks robb. be patient. play the long game. by they way, where did you recruit all the smoking hot chicks in these videos? the dudes ain't bad either, but that may require a bud light. cheers mate. GO MAN CITY!!!!!!

@KyleBaran90 Год назад

Had a funny one happen to me just the other week. I was considering psychadelic stocks as a long term play a few months ago, and then news about them started picking up. Found a ticker that I didn't DYOR and more or less had shilled to me. I think I ended up buying the local top on it and layered out before losses were too bad. Well I checked my system (which is still a WIP) and a broad psychadelic ETF ended up flagging as a long entry, so I rotated into that. The problem is that it was a Canadian ticker, which doesn't let bracket orders have SLs - it has to be a Stop Limit instead, which I believe I set incorrectly. So between that, an illiquid stock with a huge bid/ask, and ended up losing $200 back to back. Whoops. I think one of the hardest things for me right now is to not fomo trade on news. I need to remember that news is basically priced in and to just come up with a plan first. I think writing it down (on paper) and coming back to it an hour later might work.

@ProsperbutThrive 3 месяца назад

one thing i really need to stop doing is looking at my trades after I've placed them. its like i don't trust my algo when i know it fully works especially after doing all the back testing

@kevinnsales592 Год назад

Funny revenge trading story? I've never won a single revenge trade! No matter how hard a pair was trending! But, if my strategy told me to get in a second time, almost every time I followed my rules, it went well. ...Maybe I shouldn't become a stand up comedian. Great podcast as usual. Keep up the good work!

@mikescarborough9196 Год назад

I would call this video “Pissing in the Wind” and RU-vid would probably either demonetize it or ban it.

@rmhsmith2453 Год назад

I took revenge on my algo. After taking a string of losses I would go back to a blank slate and build a new algo from scratch. Months down the line the new algo would lose and id repeat the process 🙈🙈🙈

@rishz7857 Год назад

What! 500 pip loss. More than just one mistake by failing to close out the trade, but no stop loss also.

@muhammadsyrian9186 Год назад

I have never blamed the market but once, when I bought the oil, then, it went to zero. revenge comes from blaming the markets.

@wilsondominic7719 Год назад

what if 3 days later your system gives you another good entry on the daily chart on the same pair you took a loss and that's the only pair available to trade?

@philnewpower Год назад

After a stupidity loss/error, I always have to ask myself... Is this a revenge trade? But the system helps you be aware if your following the system or not.

@mickeytanadi Год назад

Hey what an amazing podcast! Just wondering, if we delete a symbol for awhile (assuming we trade NNFX) , it somehow will alters the result right? Compared to our backtesting data

@NoNonsenseForex Год назад

Probably would, ya

@SSEnrich Год назад

I have been demo trading for 3 years and I just started trading live. I am surprised this exists at all. You are setting yourself up for failure. My guess is that revenge trade is a trade based on a random feeling with no basis in a strategy. How can that work? It is destines to fail. I understand people have emotions and want to get their money back. But no. I still don't get it. How do you justify a revenge trade if you have tons of backtests? You then have a trade that is "unbacktestable".

@NoNonsenseForex Год назад

Emotions take over, and everything that made sense before no longer does.

@FredonMaylor Год назад

these stock video montages are hilarious

@conzilefritz587 Год назад

VP and Robb... Champions

@TheMeditativeMind1 Год назад

Just literally had this happen a month ago. Thought I closed out a trade in profit. 24 hours later the market reversed and I was left holding a loser! Must have missed the confirmation button. Oh well. 🤷‍♀️ lesson learned on that one.

@ercapital2022 Год назад

What are the other personalities? Mine is commander, architect.

@ercapital2022 Год назад

I coped the J personality months ago, and good thing it reminds me again. Thanks vp and rob

@SparklingTV Год назад

Great Episode , always look forward to them every Monday. Listen each episode like two times. Keep them coming. #NNFX

@yeliangarcia4623 Год назад

Awesome as always!! Definitely hoping to join Maverick in the future

@mariocrooks7538 Год назад

I love this episode it resinate with me alot.... i remember last year when i work so hard to get my self a funded account while i was waiting on my work permit....my goal was to have two income by the year end.....by the way am here in panama if any trader are here free to reach out..

@sibonelowiseman4020 Год назад

I think to make life simple whenever you place an entry, be prepared for any condition that may stop you out and absorb that as part of the process simple