Trading Psychology - Learn to pause and review

Very often not, in the middle of the trade, the price hit a certain level and stalls.  Inevitably self doubt would creep in.  You wonder why and wonder how, and you may make a illogical decision that cause you regrets moments later.

There is always a reason why price stalls.  Review the chart, zoom out (see more) and check if price has hit a certain Fibo level or resistance or support that you did not notice during your analysis. (see live trade example)

Next, this is where the mind comes into play.  Did you realize that you would stick to your original plan but price later rebound and hit your stop?  Sticking to your plan is a good thing, but there is a fine line between being discipline and stubborn (or inflexible).  Price tells us what we need to know, if for the past hour or two, price sits there, there is a need to reconsider the plan.  Scaling out at that point is always my struggle of being risk adverse and greed (because my original plan gives me more profit).

Take note of your decision making process next time, and you would notice your pattern of thoughts.  Adjust it so that it can yield better results for future trades.  There is no one single formula of winning, you need to seek in order to achieve.