When you place a bad trade, you are only accountable to yourself. People can’t punish themselves effectively.
Sure you can get mad at yourself, call yourself an idiot, but then you move on. Usually, you’ll make that same mistake again.
Now imagine instead of you making that trade, it’s your mom. Mom is going to place that trade and win or lose her hard earned money.
This thought process is a game changer, because nobody wants their mom to lose money.