Human Emotions - Recency Bias

Recency bias is the tendency for individuals to place greater importance
on more recent data and experience. A trade that was made yesterday weighs
more heavily than do trades from last week or last year. Two months of losing
trades can count as much as or more than the six months of winning trades that
happened previously. Thus, the outcome of a series of recent trades will cause
most traders to doubt their method and decision-making process.