First, you have to make sure that you have allocated the amo...

First, you have to make sure that you have allocated the amount of money put aside for investing/trading. It would be worse if the money that you are trading with is what you need for your daily necessities - this will induce more fear in your trading and reduce your chance of success.

Next, decide if the trade still follows the same rules that you have put in for the trade. If the rules have been broken, exit the trade and wait for a better one. If not, you might not be the only ones losing money - sometimes the tide goes out and many are caught swimming naked.

Lastly, look at the overall market or industry and decide if you are willing to go down with the tide or climb back to the beach to wait for a stronger tide (no matter how long it takes).