Consequence of Getting revenge on the market | Forex Factory

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Consequence of Getting revenge on the market

  • #1
  • First Post: Jan 26, 2006 5:16am Jan 26, 2006 5:16am
Hello fellow members,

Another thought of a curious (or lazy) mind.

There's this concept that I'm thinking about...
The concept is "Do not approach the market with revenge in mind" or something like that..

If I remember it right, I think the reason behind the concept is that "the market does not owe you anything". Which I believe is true...

So what are the possible consequences if one approaches the market with the intent of taking revenge?
What will it do to your trading?
Maybe in the short term it will help you because you will try to learn all you can about the market.. But it the long term, what are the consequences?

I think it will be very helpful if your replies will be coming from experience.

Again, hoping for your inputs.

Regards,
East
  • #2
  • Edited 1:59pm Jan 26, 2006 7:06am | Edited 1:59pm
Quoting eastmaels
The concept is "Do not approach the market with revenge in mind" or something like that..
Hi East!
The nature of "revenge" in trading is analogue in gambling, quite the same.
Revenge bring you to thoughts like: "I will raise the bet and this time I will win! I feel it!"
So you carelessly raise the bet and with this mood you act with your brain switched off... 90% of the times the trade is a poor one and the things get worse.

  • #3
  • Jan 26, 2006 1:20pm Jan 26, 2006 1:20pm
Having a bad day?
  • #4
  • Jan 26, 2006 9:50pm Jan 26, 2006 9:50pm
Quoting Croesus
Hi East! [img]images/smilies/wink.gif[/img]
The nature of "revenge" in trading is analogue in gambling, quite the same.
Revenge bring you to thoughts like: "I will raise the bet and this time I will win! I feel it!"
So you carelessly raise the bet and with this mood you act with your brain switched off... 90% of the times the trade is a poor one and the things get worse.

Hi Croe!

Thanks for your input..
I just wanted to know the consequence in order to avoid doing something stupid!
It's one of those phases that I think I need to overcome or reconcile.. Because if I don't, then I'm gonna be in big trouble..
So before trying to fix something, I need to know first if it's broken right?

Quoting SouthernFried
Having a bad day? [img]images/smilies/wink.gif[/img]
LOL! Thanks for this South.. kinda...

So to reconcile such feeling here's what I need to put into my psychological system.. I know it's been said again and again, but I think, to somehow imbed it in me, I need to somehow experience it.. I think I'm one of those who has no common sense.. Since the sense is not common for me..

"The market owes me nothing and I owe nothing to the market.
Before putting on a trade, the market will go where it wants to go..
It is my job to accept that and prepare myself for whatever happens.
The only reconciliation I can get from the trade is that I planned for the trade.. Whether the trade goes my way or not.. It should be in the plan..
I should never expect for things to go always my way..
It is just my job, to make sure that I am still able to trade, when things go my way.."
  • #5
  • Jan 26, 2006 9:51pm Jan 26, 2006 9:51pm
Hi East. I think the whole concept of 'revenge' is a bit strange as it implies that the market has some sort of control or power over you - which of course it doesn't. Maybe the concept of 'getting even' should be put into the context of your own self-empowerment, as that's the only sure-fire way to 'win'.
The framework is there; we just have to work on our frame of mind.
  • #6
  • Jan 26, 2006 10:33pm Jan 26, 2006 10:33pm
Quoting niceguy777
Hi East. I think the whole concept of 'revenge' is a bit strange as it implies that the market has some sort of control or power over you - which of course it doesn't. Maybe the concept of 'getting even' should be put into the context of your own self-empowerment, as that's the only sure-fire way to 'win'.
Well, it's this creeping emotions that seem to always get the best of me.. I am actually, observing myself (objectively as much as I can), and see my attitudes when trading..
Somekind of detachment.. although it really is difficult to become detached when trading.. I try to do it after trading..
I evaluate myself.. And figured I got lot of work to do at this stage..
Maybe in 2 to 3 years time, I'll get a good handle of myself..

Thanks for your input niceguy...
  • #7
  • Jan 26, 2006 10:48pm Jan 26, 2006 10:48pm
Quoting eastmaels
Hello fellow members,



So what are the possible consequences if one approaches the market with the intent of taking revenge?
What will it do to your trading?
Maybe in the short term it will help you because you will try to learn all you can about the market.. But it the long term, what are the consequences?


East
You will lose. When you feel ths way, turn off the computer and walk away. Revenge is a strong driving emotion and causes you to do to do stupid things. Its like putting it all in the pot on a pair of twos. You don't think straight. So do you think you can trade smart? Nope. Someone on a thread said correctly to leave your thinking at the door when you trade, but start implementing the plan all your thinking and plannng has formulated in the form of a trading plan. This comes from a lot of experience. The market doesn't care. You and i need to want what the market wants. If it wants something else then what we think we need to stay away.

Short Term....it would be luck if you win. Learning about the markets in this mode? No way. You are too consumed with trying with your own will to make it do something you want. You just arn't in any place to really learn.

Long term.... You will lose, possibly everything because revenge and anger cause you to stop planning and even....caring.....Its what puts a gambler;s whole pot in with a pair of twos....dumb....

Me? Got mad, and vowed to make it up. Went short pork bellies. Doubled my trade size. I'll get it back! First day made some money..Good. I'lll show em. Next day went up. Lock Limit? Know what that is? It means you CAN"T get out. (doesn't happen in 4x which is important. No matter what. Next day lock limit again. I'm losing big and NOTHING can help. 4 days later got out. only had 20 % of my account left...... I guess i learned someting, but it was pretty expensive... All cause i got mad and wanted to get even!

Yeah i learned. I hope we all can appreciate all the wisdom this forum gives us with Simon, James, John, and many others. It will help keep us in the game. Make a plan, then trade it. Simple. eh?

My best,

Jim
  • #8
  • Jan 26, 2006 11:04pm Jan 26, 2006 11:04pm
Quoting james275
You will lose. When you feel ths way, turn off the computer and walk away. Revenge is a strong driving emotion and causes you to do to do stupid things. Its like putting it all in the pot on a pair of twos. You don't think straight. So do you think you can trade smart? Nope. Someone on a thread said correctly to leave your thinking at the door when you trade, but start implementing the plan all your thinking and plannng has formulated in the form of a trading plan. This comes from a lot of experience. The market doesn't care. You and i need to want what the market wants. If it wants something else then what we think we need to stay away.

Short Term....it would be luck if you win. Learning about the markets in this mode? No way. You are too consumed with trying with your own will to make it do something you want. You just arn't in any place to really learn.

Long term.... You will lose, possibly everything because revenge and anger cause you to stop planning and even....caring.....Its what puts a gambler;s whole pot in with a pair of twos....dumb....

Me? Got mad, and vowed to make it up. Went short pork bellies. Doubled my trade size. I'll get it back! First day made some money..Good. I'lll show em. Next day went up. Lock Limit? Know what that is? It means you CAN"T get out. (doesn't happen in 4x which is important. No matter what. Next day lock limit again. I'm losing big and NOTHING can help. 4 days later got out. only had 20 % of my account left...... I guess i learned someting, but it was pretty expensive... All cause i got mad and wanted to get even!

Yeah i learned. I hope we all can appreciate all the wisdom this forum gives us with Simon, James, John, and many others. It will help keep us in the game. Make a plan, then trade it. Simple. eh?

My best,

Jim
Appreciate this Jim.. Thanks for sharing this too..
Well, I will do my best to stay in this game...
I am learning somehow, bit by bit.. taking those little turns..

Regards,
East


P.S.
Are you a clone of James16?
  • #9
  • Jan 27, 2006 7:53am Jan 27, 2006 7:53am
Revenge trading is not a good idea.

When the market takes me down for the day, I shut it all down and head out for the day. Go fishing, beach with my wife or just out.
- SAFE TRADING MONEY DUCK
  • #10
  • Jan 27, 2006 8:25am Jan 27, 2006 8:25am
Quoting Money Duck
When the market takes me down for the day, I shut it all down and head out for the day. Go fishing, beach with my wife or just out.
Very true, when emotions enter into the trading ring... it's better to take a break.

  • #11
  • May 20, 2019 6:31am May 20, 2019 6:31am
I still don't know about revenge you mean.
  • #12
  • Last Post: Feb 29, 2020 10:00am Feb 29, 2020 10:00am
The most optimal format of work in the market is not to deceive yourself and just try to act as planned. This is the format that can bring you a result that will meet your expectations and help you reach the level that suits you. That is, really, if you understand that you can not expect that each of your forecasts will be correct or that the market will not present you with any surprises, both pleasant and unpleasant. That's absolutely normal. A lot depends on your attitude and desire to understand what you are not fully successful at or what requires a lot of effort from you. It seems to me that the market obeys only those who are ready for it and are not looking for reasons why it did not work.
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