Not following a simple trading plan with stop losses and take profit will drain your trading account fast. This is the reality of the stock markets they will take your money and give it to the winning traders. This is where the fear of loss comes in. The fear of losing in a trade keeps you in the trade until you have lost most of your money.

 Fear of loss will lead to costly mistakes when making a stock trade since we thing in terms of making quick easy cash. This wanting to make fast cash is the reason most new traders don't use stop losses which is their first big mistake. Just because you have a losing trade does not mean you are a failure it just means you had a unsuccessful trade. If you use a stop loss then actually it is a successful trade since you have preserved your capital by getting stopped out of the trade. The fear of losing makes a new trader watch the losing trade go down instead of stopping out because they think the trade will actually make them money which is desperate thinking.