I have a theory about adrenaline. It's a break down on how it's natural to let your losses grow bigger and cut your profits short.
When I'm in the loss and I mean bigger loss, or around stop loss level adrenalin kicks in my body and with it "fight or flight" mode for response. I'm in a loss and I have a chance to fight and win over a losing trade. Because my body is in fight or flight mode I chose fight and than I fight, fight, fight. I add new positions by averaging down, I move stops making them bigger and bigger, I risk enormous percentages of my account. All of that represents fighting. None of that I do because it's good for my trading account but because I chose to fight. Nothing matters, fight mode is chosen and I just fight.
I usually fight only in losing positions, than there is logic for it. Adrenalin is high in my body, I check around to see why and than I spot the reason, losing trade. I make a judgement that it's safe to fight and that it's worth it and I start fighting. Maybe it's safe to fight for my body because from losing trade and fight with it I can't lose a hair from my head. It's not safe for my account. Question is about what to make decision in that situation about body or account. Adrenalin is flowing in to the body and helps to respond because there is some kind of a threat. Nobody told to the body that threat is about trading account and profits. Maybe it would be a good thing to feel actual pain in my body with every down tick, than I wouldn't fight so bravely.
On the other side when I'm in wining trade, again there is adrenalin in some moment. Maybe because profit started to get big very fast or just big for my perception. It's not important, only thing that's important is that adrenalin is here again. Again I have flight or fight choice to make. Now is the question against whom I can fight, who or what is the threat? There is no losing trade. Winning trade with every tick make adrenalin flow bigger. I got to chose, it's hard for me to be in rising adrenalin flow, it's not pleasant feeling. Idea comes that I could lose unrealised profits and I respond to that as origin of threat. What can I do? I can flight from threat situation and save the unrealised profits. It's better thing to do than to stay and fight. The fear is not concerned with possible future gains, they are not in my conscious mind at all. Here is only unrealised profit that is real, and it's in clear and present danger. I don't have a object with what I can fight, I chose flight and in the moment I'm out of the trade. Profits are saved and level of adrenalin can fall.