1. You really cannot edit another word of it without spoiling it in some way.
2. The story haunts you - and you wrote it! (Good chance readers will be haunted by it too).
3. Having deadlines to submit (for reputable competitions say) can be really useful as it makes you work to a date and encourages you to let a story "go". It can be easy to keep editing and polishing. At some point you need to pluck up courage and test the market with your stories.
4. When you can genuinely envisage your piece as suiting Publication X, say, because you have read several of their editions, have a feel for their style and your story or article fits in beautifully. If you are right go on and send it in but be sure to follow their submission guidelines.
5. You come across other published stories which you have cause to feel are not as good as yours. Only one way to find out if you're right or not: send your one in!