I have a trolling motor question I think I may have fried it yesterday

if I keep it on 3 power level the foot peddle seems to be ok when I say foot peddle I mean the wiring inside.

If I put the speed on 5 the wiring well the red wire going to speed control get so hot its black now should I just through it away and get a new one or is it the speed control knob

if you can take it apart inspect all the wires, a friends motor was doing the same, come to find there were bare wires in there that were touching and shorting it out..

It seems to be the wire right at the speed control I wonder if the speed control is gone that was where the wire got hot at know where else

weird