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1.
For sport Fantasy Teams, such as Premier League Fantasy Football (English Football/Soccer). Trades that are made straight after seeing either a player you have in your team does not play/does something stupid, or seeing a player you were thinking about getting into your team go off-tap and score a bajillion points.

Usually made while the gameweek is still going or barely finished.

A viable strategy in fantasy leagues.
Did you see Jerome last night? I made a rage trade this morning to get him into my side, pity I miss out on those 12 points.

I rage traded Drogba out of my side after he put the ball into the back of Saha's head for, what I'm calling, an own goal.
by Howlitzer December 15, 2009