The authors present results of the investigation of an incandescent-cathode discharge in an equipotential volume in a magnetic field of 2000 Oe. In the pressure range studied, 2 × 10−6 to 10−4 Torr, there is formed a plasma column negatively charged in relation to the surrounding walls. It is established that, when the pressure of the neutral gas is increased, such a discharge becomes unstable. A plasma torch is formed which rotates steadily in the direction of the electrons and escapes from the region of the primary beam. The torch is a result of plasma polarisation in the primary electron beam when there is azimuthal non-uniformity of density and a difference between the ion and electron drift velocities. If the pressure is increased further the steady rotation vanishes and intensive oscillations with a continuous frequency spectrum develop in the discharge. The fundamental principles underlying this discharge behaviour are explained. By means of a simplified model an expression for the rotation frequency of the torch is obtained and confirmed qualitatively by experiment.