(....)
Sticking to the trading plan is also good to avoid unfavourable trade as changing plans in the middle of a trade Can really lead to a loss in trade.
This is a common mistake of new traders. They intend to lose money because they don't have 1 final decision everytime.
Best example is when they open their trade, they don't have a plan like how much is their willing lose on every trade, when is the stop loss, and what is target price.
Some don't have stop loss and they are hoping their entry will recover.
The decision of whether to continue with your trade plan or whether to change plan at the face of adversity is not an easy one to make. I have seen a situation that people opt to sticking with their plan and the losses became too massive. I have also seen people changing plan and later their initial plan became a success. The best thing is not to fall into such a situation but it is not easy to avoid it totally in as much as you are in the market. Sometimes, exiting the market even at loss would be wise instead of taking some emergency and uncalculated risk.
Trading is not for everyone though, I have stopped day trading.