Most private traders on a losing streak keep trying to trade their way out of a hole. A loser thinks a successful trade is just around the corner, and that his luck is about to turn. He keeps putting on more trades and increases his size, all the while digging himself a deeper hole in the ice. The sensible thing to do would be to reduce your trading size and then stop and review your system.

Remember, your goal is to trade well, not to trade often.

To be a good trader, you need to trade with your eyes open, recognize real trends and turns, and not waste time or energy on regrets and wishful thinking.

The goal of a successful trader is to make the best trades. Money is secondary.

Traders lose because the game is hard, or out of ignorance, or lack of discipline or because of both.

Many traders ride an emotional roller coaster and miss the essential element of winning: the management of their emotions.

Losers bring money into the market which is necessary for the prosperity of the trading industry.