This sounds like me when I first started trading a few years back. I had the same problem as you.
I make a couple of hundred pips from the volatile GBPJPY after a few days of trading and lost them all within hours.
For my case, it has to do with something I called the Revenge Trading Method. After having 1 lost trader, I will quickly want to take back the money and then immediately place trades that are of bigger lots hoping to take the money back.
In most cases, this resulted in more losses for me and eventually wipe out all my winnings.
I think the best way to overcome this problem is to walk away from your computer after you have a losing trade so that you can cool down and then enter another trades that is according to your trading plan.
The second thing is I will always let myself know what is the acceptable loss that I can take before I enter any trade and then set it as my stop loss. Since I am able to accept the loss, I will be okay if I lost the money.
Alway plan your trade and trade your plan!
I make a couple of hundred pips from the volatile GBPJPY after a few days of trading and lost them all within hours.
For my case, it has to do with something I called the Revenge Trading Method. After having 1 lost trader, I will quickly want to take back the money and then immediately place trades that are of bigger lots hoping to take the money back.
In most cases, this resulted in more losses for me and eventually wipe out all my winnings.
I think the best way to overcome this problem is to walk away from your computer after you have a losing trade so that you can cool down and then enter another trades that is according to your trading plan.
The second thing is I will always let myself know what is the acceptable loss that I can take before I enter any trade and then set it as my stop loss. Since I am able to accept the loss, I will be okay if I lost the money.
Alway plan your trade and trade your plan!