Every new trader eventually comes to the same conclusion.....What I am doing isn't working and I need to be doing something different. It is a fork in the road. Do I go right or do I go left? Some even hit a wall. How do I get over this barrier to continue on my journey as a trader to the promised land? Most traders eventually realize that the reason they do what they do is not because they are "bad traders"; the reason they do what they do is because of biological conditioning.
Jesse Livermore the infamous "Boy Plunger" explained what is most important in trading: "You should fear incurring a bigger loss than is necessary (holding onto a loser) and have hope that a winning trade will continue to move your way resulting in a huge profit (let your winners run)". This is the opposite of what traders typically think and how they act. They fear losing some of their profits and cut winning trades short before being able to book "a big win" and have hope that a losing position will eventually turn around and go their way so they hold on to losing trades way too long causing huge draw downs that are almost impossible to recover from.
In practice what they do is to increase their stop size while the trade moves against their position and increase their loss while at the same time they are ready to cut their winning trades short and decrease their potential profits. This is in direct contradiction to proper money management and always results in poor trading results.