Hypothetically, two characters can help us in understanding the attitude required for successful trading in Stock Markets.
And their names are Narendra & Rahul.
This is a pure case study; no one is right or wrong here.
First analyzed the prevailing Market Trend & then took exposure in that direction whereas Rahul is watching him trade in disbelief and from safe distance by maintaining radio silence.
When Narendra starts incurring Mark To Margin Losses on those open positions, Rahul become more than happy & starts boosting around with confidence.
On the other hand, Narendra stick with his Market view by maintaining the Stop-Loss, and continue with the Open Positions, unfazed; with willingness to re-adjust his Trading Strategy, if required any change at any point in time.
Either). Prefers to maintain ratio silence again when he realises that Market started going in Direction / favour of Narendra and He shall book profit once again !
or). Rahul become even more aggressive in justifying his inaction of not trading when Narendra book (even negligible) losses, and that to be by chance.
Whereas, without wasting any time and irrespective of the results achieved in last trade, Narendra starts preparing for his next entry / trade. Because, he has the clear cut Stop-loss to exit timely from the Markets.
The Moral of the Case Study:
No point in sitting on Shore. Either You Trade or Say Goodbye forever.
If you are a Trader then better to behave like Narendra.
Trade with enough Capital and with Time Tested Strategy.
It is 1000 times better to follow Stop-loss and Trade the next opportunity before you then to react / behave irrationally when Prices are not in your favour.
Every True Trader is well aware & accept above Statement to the core.
Most Importantly, Patiently follow the RULES (Stop-Loss).