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TRADING BLOG EP. 64 - REVENGE TRADING VS. TRYING AGAIN

It’s Monday, the first day of the trading week. Wouldn’t it suck to start the week off with a loss? Well, that’s exactly what happened to me. I tried to get long on the ES & I took a loss. However, I re-entered after the loss, and had a very nice winning trade. The thing is, when most people do this, they are revenge trading.

I wasn’t revenge trading. When you revenge trade, it’s when you re-enter the market to make back for a loss. However, I re-entered the trade because the idea was still valid. My timing was just off, so I was comfortable with taking on a bit more risk. But, I had to stay objective to see if my idea was still valid. I almost walked away for the day, but when I saw the idea was still valid, I was comfortable with getting back into the trade.

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