In stock trading, either you are right or you are wrong. There is not such thing like 'hope'.
I knew that I was wrong in buying Sunrise based on technical analysis. This stock is still in downtrend. But I 'hope' that it will go higher. That is why I didn't cut my lost when it bounce up to 1.50. I was 'hoping' of breaking even. It didn't happen. I continue it's journey down. Eventually I have to cut it at 1.39. I could have reduce my lost but I 'hoped'.
When the chart says that we are already dead wrong, we still refused to accept it. Hoping that it will turn around favoring our position. This is not good for a trader. Either you are right about the trend or dead wrong. There is nothing in between.
When I enter a trade and start hoping that it will turn into a profit, then I know that I'm in a bad trade. When I starting to 'hope', that means that my analysis is wrong and I should cut lost fast.
Easier said than done. The ego in us will prevent us from admitting our mistakes. This may cost us our precious capital. But mistakes are common. If you read Daryl Guppy's book, then you will know that the A+ traders are only right in 70% of the trades done.
So stop hoping. If you are wrong, you are wrong, get out, learn your mistake, find another trade and make money!