Here is what old man says
If we are traders, we don't think of ourselves as masters.
Thus we never do as well as we are able to. These patterns are compounded
by the uncertainty and unstable nature of the marketplace,
which tends to foster anxiety and the development of automatic behavior.
Such patterns also may lead traders to risk more to stay in a losing
trade than to put more money in a winning trade. In extreme instances,
gambling and superstitious behavior may be manifested. The master
trader trades from a perspective of rationality, knowledge, and skill—
not from an emotional or defensive perspective, not in order to feel
"complete" or "excited." To succeed at trading you have to be willing
to do things contrary to human nature. You need to hold on to or get
bigger in winning trades and get out of losing trades faster.
"The key to trading success is emotional discipline "