Thanks. I wandered around a bit this year until I finally found my groove in October. That was when I read & implemented 'Inventory Trading' by Shonn Campbell. The philosophy it presents has radically altered the way I approach trading. 1) I reduced my position size. 2) I no longer approach trades as single binary win/lose bets. Now I build positions incrementally and manage the whole as a business would purchase & sell inventory.
Well I had a lapse of judgement in position sizing, got greedy and the market took me to the woodshed. Painful lesson. The markets do not tolerate mistakes. A perfect example of how a good trade can be a failure with poor money management. Even a lousy trade can be salvaged if managed properly and risk kept under control. The moment you trade too much size, time becomes your enemy rather than ally.