You are not doing anything wrong, you just can not keep re-compressing a file to reduce the size of it, there is a limit to how small you can get a file.
For example if you had a image with 1000 identical red pixels in it, when you compress that image only 1 red pixel would be saved along with code saying where abouts that red pixel should go in the image to make up the full image.
You could try compressing the file with 7zip, that is supposed to offer slightly better compression, however I don't think you will get the file much smaller than you already have with WinRAR's best compression.