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Markets tanked Friday and are bouncing today — is it a trap? Join the room to see the exact tickers Geof Smith expects to rally after the sell-off, and find out what we are doing to prepare before SpaceX goes public this Friday! [tap to join us for Profit Panel]
I’ll be honest with you — I lost a lot of money on Friday. So did most people I know. Days like that happen, and they test every bit of discipline you think you have.
And as much as people want to believe trading is about strategy, the truth is simple: Psychology is nine-tenths of this game. You can have the best setup in the world, but if your mind isn’t steady after a hit, you won’t last.
Before we even talk about revenge trading, it helps to understand the emotional cycle that sets the trap.
You start with euphoria after a few wins — you feel brilliant, untouchable. Then you get a day like Friday, and suddenly you’re sliding from confidence into panic.
That panic is where despondency begins, and that’s exactly where people start making the worst decisions of their trading lives.
The Four Horsemen of Trading Failure are FOMO, revenge trading, overconfidence, and gambler’s fallacy.
If you ever wonder why smart traders blow up accounts, it’s almost always one of these.
Revenge trading is the quietest but most dangerous of the four because it feels like you’re taking control — when really you’re losing it.
The Spiral Gets Worse, Not Better
That brings me to what happens next.
When you’re down, you start convincing yourself you can fix it with one big swing. You look at a name like Celsius Holdings (CELH) and tell yourself it will definitely bounce, so you size up to claw back what you lost.
But here’s the reality: You will not make money — you will actually make it worse. That’s how a $2,000 loss becomes $3,000, then $4,000.
It’s not the market doing that to you. The market is neutral. It’s your reaction that creates the damage or the discipline. Most of the time, the best thing you can do is simply stop. Not freeze, not chase, not fight — stop.
That isn’t weakness. It’s the only thing that keeps your account alive long enough for you to trade another day.
The Discipline to Stop
The best traders aren’t the ones who always win. They’re the ones who know when to walk away. They don’t let a bad moment snowball into a catastrophe.
They don’t let emotion dictate position size. And they definitely don’t try to outmuscle a market that doesn’t care about their goals. Losses like Friday happen to everyone.
One of the guys trading alongside us on Friday was down $3,000. He wasn’t alone — and he knew better than to push his luck. You have to go with the flow, not against it.
There’s an old principle that’s never been more true: Sometimes the best thing you can do is sit still. The market transfers money from the impatient to the patient.
And on days like this, patience is the difference between surviving and blowing up.
To better trading,
Alex Reid
WealthPin
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*This is for informational and educational purposes only. There is inherent risk in trading, so trade at your own risk.Â
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