Nice write up there and yes the problem with many a trader, myself inclusive, is with the conviction bet. Most often than not, our minds are set on steel that everything has been figured out, even all the indicators may say we 're on track, however at the end of the day, what stands is that the market always have a mind of its own and many a times, it's exact opposite of what a trader was thinking. I think it would be right to say that by position sizing, it simply means to slow and steadily recover lost grounds over time, than to go for a kill with the next trade after a loss.
what a powerful word sir " at the end of the day, what stands is that the market always have a mind of its own". I believe that is where many trade got it wrong, immediately you treat market as a person I.e market has emotions, thinking and taking decision on it own then you are an experience trader. Note, don't think for the market rather have a predetermined exit and entry plan and good money management principle and you are good to go.