A lack of education, understanding and trading skill, combined with this false-confidence cause the trader to keep trading, but now the trader loses all the money they made on their three winners. In other words, we are trading probabilities, not certainties in the market, and every trade is unique and independent from the previous one; so, your previous trade result has no influence on your next trade’s. It is when you start assigning too much importance to your more recent trades that you lose sight of your trading plan and long-term trading goals and start losing money regularly.