Even when a person has a clear head, determining the direction of the market is difficult. Placing a trade without being confident in the reasons behind the trade has been known to cloud judgment. In addition, one's instincts or subconscious sometimes is able to perceive information not consciously accessible. Doubt before a trade, sometimes is the subconscious mind's method of warning the intellect. Cut your losses and let your profits ride.
Many unsuccessful traders put a limit on their profits and no limit on their losses.
Successful currency and commodity traders aim for large gains and, if that cannot be achieved, small losses. One can make huge profits in currency trading and still lose money on the majority of one's trades. This can only be done if you do not allow large losses to suck up your gains. To prevent this from occurring, placing stop loss orders is highly recommended. If you cannot afford to lose, you cannot afford to win.