“To Err is Human”, but in trading it often happens that traders will knowingly make decisions that create losing trades. Now we’re not talking about losses that come about because of testing out a trading plan or a specific indicator. Nor are we looking at simple errors committed purely by accident. If our goal is to profit, then why would we do these things that are clearly against what we know to be right? This phenomenon has many very undesirable consequences that are experienced quite regularly in the trading world.
A person’s confidence can take a severe blow when these intentional mistakes occur on top of the loss of money. Other after-effects often include a lot of putting oneself down for having done these things. Depending on the magnitude of the error, this can wind up in a rather nasty cycle that compounds the problem and sets the stage for it to happen again. Until the source of the issue is discovered and the trader takes action to address it, the self-sabotaging behavior is likely to happen again and again. This isn’t limited to new traders either.
For an example, one such trader (a real person that we’ll call...
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