Can a low-carb diet fail if you take in too many calories?

I have been doing low-carb for a while, but I haven't been watching my
calories.

I had been on a very low-fat diet, limited to 2000 calories, and I lost a
LOT of weight, but the cravings became too much and I started binging on
lots of junk food and not counting calories.

I've switched to low-carb because LC helps keep away the cravings, but so
far I have only stopped gaining weight (which is a victory in itself) but
have not lost any. I may be eating too much. I try to stick to three meals
per day with no snacks, but I seem to be eating a lot of high-fat foods. I
know fats are necessary, but is it possible to eat so much fat that you
won't lose weight even keeping the carbs under, say, 20 grams per day?

Or maybe I am just not being patient enough. I think I will wait a couple
more months (I am 298 now) and see how it goes.