Dumb asses make pips because they can follow systems , and can't think for themselves.Intelligent people using their brains are prone to emotional responses , second guessing their systems and suffer from discipline and other issues.Their brains won't let them win.
Their brains support making excess cortisol and and stress , as a result their mindset suffers and is unable to function appropriately under stress.Stress gives depressed trading moods.
A system is worth nothing without appropriate trading mindset.
If you do not have a system to follow , decisions are based on ego , gut feelings and personality traits .This is when trading decisions become based on you rather than the market price action , it leads to disaster.
Traders change when they join crowds and follow trends or place trades at support or resistance. They become more credulous and impulsive, anxiously search for a trend or set up, and react to emotions instead of using their intellect.It is their sixth sense which put them in the trade , it is based on emotions ,mindset, knowledge ,skill and their past experience .When the markets fails to follow his trades .emotions kick and the game plan goes out of the window .An individual who becomes involved in a group becomes less capable of thinking for himself.
A good post explaining how traders become overwhelmed by emotions.A normal human instinctive trait is to protect one's account and win at any price ,even if t means throwing the game plan out of the window.After a string of losses traders are under control of their emotions.