I was on a good roll for a few months, and then lost it. I know exactly what I am doing wrong: I lost the nerve to remain in a position, and have faith in my trade, when it goes against me even the slightest bit. I've become more impulsive and impatient. Any advice on this?
Losing one's nerve in trading is like losing the whole game before it starts. You need to stop and find out what is behind your lack of confidence in yourself. How do you deal with set backs? Can you deal with being wrong 50% of the time? Do you think in terms of dollars or percentages? Do you realize how much 1% is of what you are losing? Do you hold onto winners so long that they become losers? Have you dealt with your childhood traumas? Do you have a small account? Do you have adrenaline rushes when you put on a trade? There is no cut and dried answer to this. When we trade we are truly alone. We are in control of our destiny. It can be frightening for some.