What to do if you always trade in revenge after a loss?
1. Just like a divorce, set a "loss cooling-off period". If a major loss occurs, especially a margin call, set a cooling-off period, such as a week or a few weeks to adjust your emotions. Never touch the transaction during the cooling-off period until you get out of the emotions of "confusion", "anger" and "pain".
2. Review and analyze the reasons for the loss. During the cooling-off period, carefully analyze the reasons for the loss. See if it is because the strategy fails, is not executed as planned, or is caused by sudden market conditions. You must clarify the root cause of the loss before you know how to solve it.
3. Re-formulate a trading plan, including position settings, stop loss limits, and trading frequency, and set a daily or monthly loss limit for yourself. Stop trading when you lose a certain amount, especially when you start trading next time, you must control your position well, and you can't have a similar situation of being unable to control it again.
4. With the help of some tools, such as pending orders, stay away from the market. When you are not reminded to trade, do what you should do, and don't stare at the market all day long.
5. Set long-term profit goals. Don't stick to one or two transactions at the moment. Set a long-term plan for yourself, such as what is the goal for one month, half a year, or one year, and work towards the overall direction.
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