At first this would cause a karma hit, so I tried a workaround: after my submissions peaked, I would delete them and this would present a smaller surface area for revenge attacks.
This turned out to be a bad idea because it deprived reddit of the history. So I switched to a new tactic: I simply stopped participating in the forums and started submitting things under a nom de plume.
I think that they have changed things so that revenge downmods do not affect karma, but it doesn't matter to me. I stopped one day and asked myself why I was bothering to worry about my reddit karma?
Then I asked why I was bothering with reddit?
Then I closed up the nom de plume and HN is the only such site I visit. And let me tell you, I am a far, far happier man for it :-)
Apparently a lot of this has been addressed on reddit with some clever code. I think it's far cleverer to just leave the feature out!