{"id":28523,"date":"2013-07-08T16:03:51","date_gmt":"2013-07-08T20:03:51","guid":{"rendered":"http:\/\/www.smbtraining.com\/blog\/?p=28523"},"modified":"2023-04-06T14:22:48","modified_gmt":"2023-04-06T18:22:48","slug":"are-you-revenge-trading","status":"publish","type":"post","link":"https:\/\/www.smbtraining.com\/blog\/are-you-revenge-trading","title":{"rendered":"Are You Revenge Trading?"},"content":{"rendered":"<p>Hello Mike,<\/p>\n<div>\n<p>I have seen and read many of your posts on the site where you offer traders advice and was wondering if you can offer me some advice.<\/p>\n<\/div>\n<div>\n<p>Little bit about me: I started trading 18 months with very little capital and was in a up-one-day\/ down-next-day mode on my trading for over a year. Until about four to five months ago things started to click and I started to understand what types of trades I should be going after. After I started to understand I increased my portfolio 20-30x from where I started daytrading only.<\/p>\n<\/div>\n<div>\n<p>The problem i started to notice is that when I start off the morning with a losing trade a loss it just goes down hill from there and I cant get back to being profitable that day. But on green mornings it&#8217;s all good I can keep making that coin$$ later throughout the day. Any ideas on what could be causing this? Would really appreciate your help.<\/p>\n<\/div>\n<div>\n<p>If you have any questions for me feel free to ask.<\/p>\n<\/div>\n<div>\n<p>Thanks<\/p>\n<\/div>\n<div>\n<p><strong>@mikebellafiore<\/strong><\/p>\n<\/div>\n<div><\/div>\n<div>After receiving this e-mail from an SMB Reader I felt I needed more info so I quickly responded with some questions:<\/div>\n<div>\n<div>\n<ul>\n<li>tell me some more about your trading style<\/li>\n<li>are you trading multiple stocks?<\/li>\n<li>are the losses in just one stock?<\/li>\n<li>are you trading on tilt after a loss?<\/li>\n<li>do you have a rule for moving on from a stock after three quick losses?<\/li>\n<li>are you revenge trading?<\/li>\n<li>why do you think you cannot get green after one loss?<\/li>\n<\/ul>\n<\/div>\n<\/div>\n<div>The SMB Reader responded:<\/div>\n<p><strong>Are you trading multiple stocks?<\/strong><br \/>\nNot that often. I look for 2-3 stocks that I believe will be in play the next day and focus on that (of that group pick the best one); if they end up being duds I look for something else<\/p>\n<p><strong>Are the losses in just one stock?<\/strong><br \/>\nFrom the morning trade loss, yeah<\/p>\n<p><strong>Are you trading on tilt after a loss?<\/strong><br \/>\nWhat do you mean trading on a tilt?<\/p>\n<p><strong>do you have a rule for moving on from a stock after three quick losses?<\/strong><br \/>\nNo, I don&#8217;t.<\/p>\n<p>A<strong>re you revenge trading?<\/strong><br \/>\nI think so.<\/p>\n<p><strong>Why do you think you cannot get green after one loss?<\/strong><br \/>\nI think I start thinking about how to make that back and start forcing stupid trades which digs my hole deeper I guess<\/p>\n<p>*** i also have a problem with patience. Many trades that I enter I give up on or take the loss cause it&#8217;s not moving fast enough. But one to two hours later it goes to the target price that I had for it so in the end it should have been a profitable trade<\/p>\n<p><em><strong>Bella back here:<\/strong><\/em><\/p>\n<p>I hope that helps.<\/p>\n<div>You can be better tomorrow than you are today!<\/div>\n<p>Mike Bellafiore<\/p>\n<p><em><a href=\"http:\/\/www.amazon.com\/The-Playbook-Inside-Professional-Trader\/dp\/0132937646\/ref=sr_1_1?ie=UTF8&amp;qid=1362680637&amp;sr=8-1&amp;keywords=the+playbook+mike+bellafiore\">The PlayBook<\/a><\/em><\/p>\n<p><em><a href=\"http:\/\/www.amazon.com\/One-Good-Trade-Competitive-Proprietary\/dp\/0470529407\/ref=sr_1_1?s=books&amp;ie=UTF8&amp;qid=1362681466&amp;sr=1-1&amp;keywords=one+good+trade\">One Good Trade<\/a><\/em><\/p>\n<p><a href=\"http:\/\/twitter.com\/mikebellafiore\"><img decoding=\"async\" src=\"http:\/\/twitter-badges.s3.amazonaws.com\/follow_me-c.png\" alt=\"\" \/><\/a><\/p>\n<p>&nbsp;<\/p>\n<p>No relevant positions<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Hello Mike, I have seen and read many of your posts on the site where you offer traders advice and was wondering if you can offer me some advice. Little bit about me: I started trading 18 months with very little capital and was in a up-one-day\/ down-next-day mode on my trading for over a year. Until about four to &#8230; <a href=\"https:\/\/www.smbtraining.com\/blog\/are-you-revenge-trading\" class=\"more-link\">Read More<\/a><\/p>\n","protected":false},"author":144,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1,10],"tags":[2444,2449,4703,2448,2685,2451,4706,4707,1718,653,38,2445,1989,4712,4690,1888,207],"class_list":["post-28523","post","type-post","status-publish","format-standard","hentry","category-general-comments-2","category-mike-bellafiore-bellas-blogs","tag-daytrading","tag-how-to-be-a-day-trader","tag-learn-trading","tag-prop-trade","tag-revenge","tag-stock-market-course","tag-stock-trading-education","tag-stock-training","tag-the-playbook","tag-trader-training","tag-trading","tag-trading-careers","tag-trading-course","tag-trading-courses","tag-trading-education","tag-trading-school","tag-trading-stocks","no-post-thumbnail"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v26.1.1 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Are You Revenge Trading? | SMB Training<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.smbtraining.com\/blog\/are-you-revenge-trading\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Are You Revenge Trading? | SMB Training\" \/>\n<meta property=\"og:description\" content=\"Hello Mike, I have seen and read many of your posts on the site where you offer traders advice and was wondering if you can offer me some advice. 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