Personally I have my limits for the number of bets I play within a time frame. After 3 bets, I most likely back off even if I'm winning or losing. You are right when you mentioned that people get greedy and keep Betting when they win bets, making them lose at the end most times. Let's remove greed from the picture and know our limits.
Indeed. Emotions can make you reckless on the bigger winning or losing streaks. The same for the bet sizes, people tend to raise there bets to battle losses but most of the time it wont play out.