xplorer 

First, this is common to many. Not that it's any consolation. Second, I have seen you posting a lot on one of Lance's journals. He has posted a lot of helpful resources that helped him when things went wrong. These resources include also videos. You could also reach out to him, he is very helpful. Lastly, have you checked the Trading Psychology section? There are people sharing some frustration including what you are going through, but also how they deal with various aspects of revenge trading. If you haven't, I suggest you check it out.

I need to revisit Lance’s videos and posts. You are right, they’re very helpful and insightful.

I have not seen the Trading Psychology section. I will have to find it. Any particular section I should look for? Sounds helpful as well.

Thanks

tvaughan4 

I have not seen the Trading Psychology section. I will have to find it. Any particular section I should look for? Sounds helpful as well. Thanks

Well, turns out this thread is already in the Psychology section. My bad.

This is the main page for the section:

https://nexusfi.com/psychology-money-management/

The other thing you can do:

1) click on here to search
2) type "revenge trading" in the search box
3) Click the box "Forum" (you will find this right under the search box) and type "Psychology", you will get "Psychology and Money Management". Select that forum
4) Now click on search

You will get all the related posts in the psychology forum about revenge trading. I'd recommend starting from there.

Good luck.

tvaughan4 

Just did it again. Erased 2 weeks of work (50% of account) with one bad day. Seems to be a running theme. Every 2-4 weeks. Broke all my rules. Too many trades, too much size, moved stops, went right through daily loss limit etc…. Really frustrating. Feels like if I could only get a handle on these fairly infrequent, but brutal, days that I’d be ok. The day felt fine and as usual all of a sudden it felt like out of nowhere I went crazy and before I knew it I had huge size on and was in the hole. Then the rationalization started and that always ends well…. I need to implement a system that will stop me from myself on these days where I lose it. Some sort of hard circuit breaker. Any help would be appreciated. Thanks.

Get the book "The Mental Game of Trading" by Jared Tendler, it has a system to correct your flaws. Best book I ever read on trading psychology.

I guarantee it will answer all your questions.

tvaughan4 

Just did it again. Erased 2 weeks of work (50% of account) with one bad day. Seems to be a running theme. Every 2-4 weeks. Broke all my rules. Too many trades, too much size, moved stops, went right through daily loss limit etc…. Really frustrating. Feels like if I could only get a handle on these fairly infrequent, but brutal, days that I’d be ok. The day felt fine and as usual all of a sudden it felt like out of nowhere I went crazy and before I knew it I had huge size on and was in the hole. Then the rationalization started and that always ends well…. I need to implement a system that will stop me from myself on these days where I lose it. Some sort of hard circuit breaker. Any help would be appreciated. Thanks.

Look up the Sedona Method, and use it to completely clear all your mental space.
Then regroup and start again.

tvaughan4 

Just did it again. Erased 2 weeks of work (50% of account) with one bad day. Seems to be a running theme. Every 2-4 weeks. Broke all my rules. Too many trades, too much size, moved stops, went right through daily loss limit etc…. Really frustrating. Feels like if I could only get a handle on these fairly infrequent, but brutal, days that I’d be ok. The day felt fine and as usual all of a sudden it felt like out of nowhere I went crazy and before I knew it I had huge size on and was in the hole. Then the rationalization started and that always ends well…. I need to implement a system that will stop me from myself on these days where I lose it. Some sort of hard circuit breaker. Any help would be appreciated. Thanks.

I'd recently been there amigo so here's some encouragement. You're almost to the last step in moving forward and staying profitable. Keep pushing and learn to relax before you step up to the chart; like a professional sports players mindset.. keep your mind on your charts price action along with entry/exit rules then stick to them.
The two biggest changes happened for me when 1) I started to diligently back test my entry signals and triggers (this will eliminate a lot of yhe over trading) and 2) I started counting wins/losses over watching the account grow (this will get your mind away from thinking about the money.. think about nothing but your trade when trading)
I hope it helps buddy and good luck


Sent using the NexusFi mobile app

geekeeOne 

I'd recently been there amigo so here's some encouragement. You're almost to the last step in moving forward and staying profitable. Keep pushing and learn to relax before you step up to the chart; like a professional sports players mindset.. keep your mind on your charts price action along with entry/exit rules then stick to them. The two biggest changes happened for me when 1) I started to diligently back test my entry signals and triggers (this will eliminate a lot of yhe over trading) and 2) I started counting wins/losses over watching the account grow (this will get your mind away from thinking about the money.. think about nothing but your trade when trading) I hope it helps buddy and good luck Sent using the NexusFi mobile app

Thanks for this. Appreciate it. I have been doing these things for the past little while since the last blowout, and you are correct. They definitely help. My main 2 pain points are FOMO, I see a breakout that just takes off (NQ) and man is it hard just to sit there, or if it’s my setup but within the first 5 minutes of the open my rules say don’t trade, but then to see it rocket up…. My other pain point is losing. Not all the time though. So I’m still trying to figure it out. Sometimes I take a loss just fine and sometimes it just makes me snap and I have to get it back. Not really sure why. For the moment I’m doing 1 loss and done for the day to combat this and save myself, not ideal though. My plan only calls for 1-3 trades per day (2.5RR) so not terrible either. Still chugging along.

tvaughan4 

Thanks for this. Appreciate it. I have been doing these things for the past little while since the last blowout, and you are correct. They definitely help. My main 2 pain points are FOMO, I see a breakout that just takes off (NQ) and man is it hard just to sit there, or if it’s my setup but within the first 5 minutes of the open my rules say don’t trade, but then to see it rocket up…. My other pain point is losing. Not all the time though. So I’m still trying to figure it out. Sometimes I take a loss just fine and sometimes it just makes me snap and I have to get it back. Not really sure why. For the moment I’m doing 1 loss and done for the day to combat this and save myself, not ideal though. My plan only calls for 1-3 trades per day (2.5RR) so not terrible either. Still chugging along.

anytime buddy! I think most of us are here to learn and mature as traders. Chug along buddy by following your rules, or risk that certain pain, you know through experience, of those big losses. Remember, you can't determine how much you can make, but you can control how much you lose through your rules

geekeeOne 

Remember, you can't determine how much you can make, but you can control how much you lose through your rules

That is great!!! Never really heard it like that before. Or not ready to hear it…. That’s going to have to go in the notebook.

Thanks,Keep the loss ,Let the profit runing.

blew 

So I just need to get this off my chest. I just gave away all my gains on the year. I went from 7k -> 70k -> 10k. I blew most of it revenge trading and taking too big of position sizes. I got so comfortable scaling up as I was profiting consistently, and I threw it all away in like 10-15 trades. All the work I put in.. day and night studying all the styles of trading, figuring out what worked for me and what didn’t, and I blew it all within a few days by emotionally revenge trading and scaling up higher as the losses got deeper. How could I be so stupid?! I’m still in disbelief I blew an account. I was happy to be one of the ones who didn’t blow up an account because I remained disciplined enough to run up basically 1000% in 5 months. I can’t bring myself to tell my spouse. She would be really supportive I know it, but I can’t even face myself at the moment, let alone have to explain what happened. Disgusted with myself. Utterly disgusted. I can’t believe I let myself get so emotional and out of control. What in the fuck was going through this dense skull of mine?! My confidence is shaken but it’s not at the same time. I’m confident that I just made 1000% in 5 months, and I’m also confident I just blew that 1000% in 3 days. So what does that really say about me as a trader... that I’m probably not too good I’m thinking. The problem is trading is now apart of my identity it feels like. I love it but right now I hate it. Before a 4K swing up or down was no big deal, cause I’m some big shot or some shit I guess. But now 4K would axe me for good damn near. I want to give up but I don’t cause I love trading. What can I learn from this? Don’t revenge trade. But I knew that. I knew it while I was doing it and I know it now. So why didn’t I fucking stop?? I don’t know what to do from here.

That's 85% drawdown. Where is the problem?
With that kinda returns it's expected.
Adjust the risk and in a few months, you'll be back to your HWM.