Can your psychic ability go away?

It has often been stated that if you misuse a psychic ability, then it will go away.

To use such an ability to harm others, or for money or profit (in excess of what is reasonable), to enhance one's personal power and then abuse this power.

Looked at from the perspective of karma, if you have these abilities then they come from how you have acted and trained yourself in past lives, and traits of character which you have practiced and made personal, and so if you use them for good it will be to your benefit, and if you use them for bad then you will suffer the consequences.