Losers beget losers

Have any of you ever gone thru a period where you as a trader/investor have to take losses after losses. First, you take a trade and you find out that you made a mistake. So, the trade reaches your stop loss point and you cut your losses. You feel - unsatisfactory to say the least. You want to regain it as fast as possible. You then trade larger amounts/lots/contracts. In the end, you end up losing more. Is it down to luck? is it because you followed your broker's recommendation? NO!! It is all down to being disciplined and poor money management. You cannot blame anyone else but yourself.

I have just gone thru such a period. Losing is such a bad feeling but I guess everyone have to go thru such a period before one can learn (if one ever learns). Well, I have to just take it in stride as Bob Prechter says. Here's a part taken from Elliot Wave International's website - It's all about "Fives and Threes"

Here's how Bob Prechter, Elliott Wave International's founder and CEO, put it in his classic 1986 report, "What a Trader Really Needs to Be Successful":
"...my observation, after eleven years in the business, is that the biggest obstacle to successful speculation is the failure merely even to recognize and accept the simple fact that losses are part of the game, and that they must be accommodated. The perfect trading system does not exist. Expecting, or even hoping for, perfection is a guarantee of failure."

Trading is tough (very tough if u are a beginner), and don’t let anyone tell you otherwise. Don’t let them tell you all you need is a correct forecast, either. That is maybe 20% of your success, but you only realize that after you've traded for a while.