I'm struggling to stick to my trading strategy and often hold onto losing positions too long. How ca

I'm currently trying to follow a strategy based on moving averages and RSI. The idea is to enter trades when the price crosses a certain moving average and the RSI is in an oversold or overbought territory, signaling a potential reversal or continuation. I look for confirmation signals, but the execution is where I falter. I'll enter based on the signals, but then when the price fluctuates, I lose conviction and deviate from the plan.

When a trade starts moving against me, my immediate reaction is usually panic and denial. I'll tell myself, 'It's just a temporary dip,' or 'It'll come back.' I start to feel a knot in my stomach, and my focus shifts from the strategy to trying to 'fix' the losing trade. I might even consider adding to the losing position, which is a terrible idea. It's a cycle of anxiety and poor decision-making.

I have some vague ideas about exit criteria, but they're not concrete or consistently applied. For winning trades, I usually have a profit target in mind, but I often get greedy and let winners run too far, only to see them reverse. For losing trades, this is where I really struggle. I don't have pre-defined stop-loss levels. Instead, I tend to move my stop further away or just hope the price will bounce back. It's reactive, not proactive.

Honestly, my risk tolerance is all over the place, which is part of the problem. When I'm feeling confident, I might be willing to risk 2-3% of my account on a single trade. But when I'm feeling nervous or chasing losses, I've definitely risked more, sometimes even 5% or more, which is way too high. I *know* I shouldn't, but it happens. Ideally, I want to be disciplined and stick to a maximum of 1% per trade, but I'm not there yet.

Right now, my tracking is pretty haphazard. I mostly rely on my broker's platform to see my P&L, but I don't really log individual trade details like entry/exit points, the reasoning behind the trade, or the specific indicators I used. I'll occasionally look at my overall account balance to see if I'm up or down, but a formal review process is definitely lacking. It's more of a 'glance and hope for the best' situation.