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The great mistake is to anticipate the outcome of the engagement; you ought not to be thinking of whether it ends in victory or in defeat. Let nature take its course and your tools will strike at the right moment.
Bruce Lee

In the end, and with every improvement in science, the result depends more and more on the character of the Leader and his power of resisting 'the sensuous impressions of the battlefield.
Carl von Clausewitz, (On War (Vom Kriege)

It would, therefore, be a great mistake to draw the conclusion that a blind dash must always gain the victory over skill and caution. An unskilful attack would lead to the destruction of our own and not of the enemy's force, and therefore is not what is here meant.
Carl von Clausewitz, (On War (Vom Kriege)

On the negative side, whenever we are forced into a disadvantageous position which fundamentally endangers the preservation of our forces, we should have the courage to retreat, so as to preserve our forces and hit the enemy when new opportunities arise. (Mao Tse Tung)
My thoughts: study a good book on guerrilla warfare and apply those tactics and principles to trading. In reality traders are financial guerrilla warriors making raids against superior forces and retreating to the safety of their mountain wilderness. Fight when the odds are in your favor and live to fight another day when they are no longer in your favor.

Disclaimer: this is all just my opinion and interpretation. The work here is not intended to be used to trade the markets. The charts displayed here are meant to be of possible use in learning and refining ones Elliott Wave skills.