Limiting wins might be a probate tool to get a constantly rising equity curve. That's self regulation. But I it is wrong when some state prescribes your leverage as the ESMA does. I happily am a Swiss citicen, and (at the moment) exempt from this insane regulations.
The problem with large wins is, that you get greedy, you want more and more and in the end you lose. Mark Douglas says that in such situation you get much hormones (testosteron?) which let you forget about any risks. So you increase risk and lose.
The inverse problem is when you suffer an extraordinary large loss. You try to compensate this loss with bigger risk, which can go wrong. Therefore stop trading after a big loss.
When I turned from a "evening" trader to a full time trader I had to learn this. During the first half year I sometimes lost my whole daily wins and more in the last hour of the Dow Jones.
Self regulation of leverage (seen from your account, and not from your brokers leverage) helped me a lot to get weekly and montly positive figures (Although I am not at all satisfied with my actual performance).
I am absolutely agree with you :)
Keep up the spirit high.Have a nice weekend
Very good Roberto ;) I hope you can do it well