Hello all,
I have noticed that my biggest loses have come from stocks that I can’t seem to accept that I was wrong on. In my head I have thoughts like “it’s so overextended it must pull-back here” or “this time it will bounce”. Usually if I take a stop out I can move on, but it’s the stocks that power trend all day that get to me. I continue to enter and get stopped out over and over again. I blow past my daily max loss and think “if this next trade works I’ll be back to even”. I know these are all the wrong thought processes. I believe that it’s a deep down psychological issue where it’s very hard for me to accept that I am wrong at times. Has anyone experienced this before and overcome it? I set new rules for myself each time and they work for a few weeks or so until boom it happens again.