Don't try to recover loss immediately

[Edward Peterson]

Trying to recover the loss immediately is the greatest mistake traders often do especially new traders. It is called revenge trade. Try not to do exact revenge trade. Exact revenge trade implies in the wake of losing a trade, again open another trade just to recuperate the loss quickly. Utilize your logic not heart in trading.

 

[Ricardo Pulgarin]

That´s true, you always must to use your head not your heart

 

[Sandra Tennyson]

Recovering is not so easy here since every time you will be in a loss so how will you recover. I have been trading forex for a couple of months and when I place any position then I see it goes to my against and a few moments later it goes more so at the end of the time I lost all.

 

[FxTrader27]

Yes, that's why I think EA's are good because they have no emotions, I find it very hard when I go into a losing streak, blown few accounts already

 

[Daantje Pieters]

There will be losses in trading but if you try to cover this loss immediately then you will never be successful in trading. There will be a loss in trading so you have to try to cover that loss according to the plan. Trading is not possible without patience. When I was a new trader, if a trade stop loss hit, I would start overtrading to cover that loss. By trading like this, I have lost a lot of my investment.

 

[almedilla]

the problem is to recognise that action in that moment

 

[Rufino Fiorentini]

Forex trading is a risky business. If you don’t have enough knowledge about forex then you will face losses. You will face losses if you start trading without any proper knowledge. You have to keep patients in the forex market. If you face losses then you have to recover your money but don’t be rash. Rash in the forex market can easily make you bring downward. I always try to avoid the rash. I trade with Eurotrader. They are a very reliable broker. They never make disappointment to their client.

 

[mlawson71]

Revenge trading is probably one of the worst things a trader can do, I think. It leads to a lot of losses and a lot of stress.

 

[micholabisi]

Revenge trading always expose you to bigger losses trying to recover your losses.

 

[abc2020]

the problem is to recognise that action in that moment

yes, it's tricky to control our emotions

 

[bethron]

The root cause of revenge trading I think is that you have not accepted your risk. I was once told that you need to be happy to lose the amount you set your SL at. Once that is settled then trading becomes less stressful and trying to "get back" your losses'

 

[majamivice]

Loss is part of the game. If it happens, just move on forget about it. The most important is trade management.

 

[sazdahani]

Don't revenge of your lose trades,
Your immediately action is equal to more lose....

 

[MickeyBeLit]

Im learning to fit my urge to revenge trade and over trade with fomo. gotten better but still got some work to do

 

[Carnose]

Revenge trading is never a smart idea. It is advised that every trader learns from their mistakes. In this manner, anyone can be refined and improved as a trader. Learning is important so you can try to recover your losses later.

 

[Christine Ramon]

There are times when you need to be agile in trading, and there are times when you need to be patient to close the loss. So, be careful and do not be emotional guys.

 

[mana2011]

That´s true, you always must to use your head not your heart

 

[BinarySumo]

I totally get this. It can be tempting to try and recover losses quickly by taking on more risk. However, this can be a bad idea because it can lead to impulsive and emotional decision making, which can ultimately result in even larger losses. It is important to have a long-term perspective and a solid risk management strategy in order to be successful in the forex market.

 

[TraderChileno]

Revenge trading always expose you to bigger losses trying to recover your losses.

 

[Gumshoe]

Better to avoid revenge trading as this type of trading is often fueled by emotion and can be harmful to a trader's financial health. It can lead to impulsive decision making and overtrading, which can result in even more losses.