Revenge Trading (very wrong)

You’re pissed because you backed out of buying a coin at the last moment and it then mooned. Or you bought a dead cert – an absolute banker – and it flopped. Angry, you pile everything you’ve got into the next coin in the green and try to ride that train to Profitville. In doing so, you’re overexposing yourself and entering a market that you have failed to research.

What are your entry and exit positions? Why is the coin rising in value? You have no idea, because you’re acting on raw emotions. Revenge trading is the equivalent to catching your partner in the arms of another and then blindly throwing yourself at the first thing you can find to ‘even the score’. 9 times out of 10 it’ll all end in tears. The more you can disassociate your emotions from your trading, the better you’ll become.