The most important thing that traders forget is the overall progress they are making.
Stage 1 and Stage 2 traders do not look at equity curves and get lost in the emotional battle they have with the markets.
Since May the market has been coooperative, if you are a Stage 1/2 trader the most important part is KEEPING the gains you made for a higher low in your equity curve.
Thats the difference in Stage 1, 2, 3 mentality. Stage 3 traders are not fighting an emotional battle but primarily a mechanical one as they know eventually conditions will be in their favor to make big progress again.