I have been trading for approx. 1 year. I have learned lots and love trading stocks but i have a very very serious problem. Most of the time i make money on a regular basis. The problem is every so often i get wired into a trade. What i mean is i buy lets say 1000 shares of abc. The stock drops real quick when i anticipated it going up. Immediately i am down 6 or 7 hundred in the trade. Some of the time when something like this happens i refuse to sell and actually add to the loser. My loss grows rapidly now and i may be down 3 grand. Many times i buy even more and sometimes the loss continues to grow to mass proportions. Finally my loss could be as big as 5 digits (massive when on an average day i make 500). The loss knocks the shit out of me financially and psychologically. How do i respond. I literally smack myself in the head a couple times after the trading day is over. Then i think about what i did and try to learn from it. I then determine to trade smarter and tougher than ever. For the next while i trade great making between 300- 1000 a day for a while. Then out of the blue i seem to find myself with way to many shares of something again. I am now in another losing position with the same cycle starting all over again. I refuse to sell, i say the specialist is just trying to shake me so i buy more. Before i know what happened im down 7 grand and i realize it will take a month of great trading to get back what i pissed away in the last 2 hours. My problem is terrible discipline skills, but i am having trouble correcting this problem. The bigger problem now is that it is starting to happen more frequently. I am still up cash for the year on the whole but i know i will go broke if i cannot cure this pattern. It is only a matter of time. It frustrates the heck out of me because i feel i have other skills that are really really good compared to the average trader. But my ability to pick nice winners or my ability to read the tape means shit if i cannot cure my discipline problem. If anyone has any advice it would be so much appreciated. In my early years i use to gamble on sports casino horses etc.... Is this why i do what i do? I know my problem can be cured, and i feel on a conscious level i can be ok, but to change subconsciously is the key. Should i read a certain book? Any replies much much appreciated.