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I keep repeating the same mistake

I have a working strategy with a win rate around 60%. But whenever I spot the set up I get too excited and enter a very large, overleveraged position without stop loss. Then I freak out when the price slightly moves in the opposite direction, and rush to exit the trade with no loss. If I'm lucky I exit the trade but sometimes I exit with a huge loss. Then the price continues to do its thing and moves toward my tp while I'm no longer in the game. The amount of pain is extraordinary when I see how easily i lost a good trade.This may sound very foolish and easily avoidable but I keep repeating the same mistake. I don't know why. I no longer trust myself and know on the inside that this is going to happen again. I now understand how gamblers go broke. This is very scary.Please help me fix this. I know eveyone keeps saying manage your risk but seasoned traders know it's easier said than done. I do manage my risk 90% of the time but I still make the said mistake again and again, which wipes out all the profit i make.
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Yehudi Moll
Not adjusting trading strategies to changing market conditions

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Last updated: 11/27/2023 12:40

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Jared Tobias

Treat trading as a business rather than a casino.

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Last updated: 11/28/2023 14:20

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Murphy Edith

Treat trading as a business rather than a casino.

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Last updated: 11/28/2023 09:16

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Morton Simpson

Accountability is another great tool for keeping you on track to better decision making

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Last updated: 11/28/2023 10:49

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Pearl Hudson

Should have proper trading strategy then you will not do same mistake again and again

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Last updated: 11/28/2023 10:09

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Elma Agnes

Should learn by mistakes but never reaeat it

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Last updated: 11/28/2023 11:20

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Daniel Garcia

Best way to avoid same trading mistake is maintaining trading journal

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Last updated: 11/28/2023 09:23

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Nicola Giles

Define clear and realistic trading goals. Having specific and achievable objectives can help you stay focused and disciplined.

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Last updated: 11/28/2023 10:16

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Fitch Eliot
After each trade, conduct a thorough analysis of what went well and what could have been done differently.

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Last updated: 11/28/2023 12:11

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Ruth Jeremy
Keep a Trading Journal, Maintain a detailed trading journal where you record each trade, including the rationale behind it, entry and exit points, and your emotions at the time. Regularly review your journal to identify patterns in your decision-making and to learn from both successful and unsuccessful trades.

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Last updated: 11/28/2023 08:05

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Camille Lincoln
Trading using emotions is the main cause of a trader's mistakes. This emotion makes traders undisciplined. The ability to control emotions is very necessary

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Last updated: 11/28/2023 07:02

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Magee Gregory
Mistakes can be corrected with written trading rules. give punishment if you violate trading rules. set your playing pattern. such as only trading 2-4 hours a day, not 24 hours non-stop

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Last updated: 11/28/2023 13:03

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Verna Dobbin
So that we stay on track, trading is directed, we need a trading journal. we can monitor our performance

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Last updated: 11/28/2023 07:00

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Jerome Carroll
Raise your self compassion.

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Last updated: 11/28/2023 09:42

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Mamie Armstrong
Learn goal setting that works.

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Last updated: 11/28/2023 07:59

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Elvis Lawrence
Focus on the future. Learning from mistakes has its place.

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Last updated: 11/28/2023 07:18

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Arvin Poe
Trying recover losses by taking larger positions

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Last updated: 11/27/2023 08:02

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Rebecca Bray
Emotional trading

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Last updated: 11/27/2023 07:50

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Taylor Berkeley
It's easy to panic in a hurry, it's a sign of FOMO

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Last updated: 11/27/2023 09:32

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Roxanne Murray
Opening too many open positions causes margin to run out quickly

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Last updated: 11/27/2023 05:32

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