There are 3 types of balancing while stopped.
Trackstand, duh
Rocking
Hopping
I am a trial rider, so I've spend hours upon weeks, upon years practicing these simple techniques. By the way, none of these will hurt your road bike. Nothing here puts your rims under a lot of stress, so do not fear.
watch this it may help-
http://www.trials-online.com/video/trackstand.php
http://www.trials-online.com/video/pivoting.php
http://www.trials-online.com/video/pivoting2.php
Trackstanding is simple. Keep you pedals level... not 9-5; unless you find this more comfortable. Mainly because your center of balance is thrown off by the awkwardness of your feet. Level is your best bet. Keeping your Chocó foot forward, lock your brakes and turn your bars away from your forward foot (I keep my bars towards my front foot, probley because I'm left handed and left footed). Keep your balance by moving your knees, ankles, elebows, even taking your feet of the pedals, and bars. You can practice with no brakes by finding a slight slope and rolling up on it, once your momentum is gone, apply pressure to your forward foot and your bars away from your forward foot. When you start to loose your balance, simply either apply more pressure, thus rolling forward about an inch, or let yourself roll back about an inch, add pressure and roll forward.
Rocking is a foundation skill where you "rock" from your front tire to your rear using momentum. Moving each tire independly of each other. Practice this by rolling forward, locking your front brake, and letting your body roll over your bars, thus raising your rear tire a little bit off the ground. When momentum carries your rear down, simply let your body roll back with the bike and let the front tire come off the ground. There is no need to over emphasize these moves; it should be small, and accurate.
Hopping is the last skill where you basically “hop” your bike in a series of small jumps. You don’t want to go for air, but mainly to keep yourself balanced. One hop should lead into a series of more, letting momentum carry you into the next. In most cases, your bike shouldn’t leave the ground more than a quarter inch. The downside to hopping is that it takes excessive energy and can be draining.
Once you master all three of these skills, when you are in need of stationary balance, you should be able to interchange between all three of these foundation moves, with out even thinking about it.
Now, the tricky part, the mental game of stationary balance. Far too many riders try to execute these moves from the conscious mind. When you are doing more harm than good. Your mind can only process certain amount of information to keep yourself balanced. There are far too many signals going to too many different parts of the body to keep yourself balanced. You need to teach yourself to do this from the subconscious. When you are not actually thinking about keeping yourself upright on your bike, you will find that you are able to just stand there stationary for amazing amounts of time.
When I balance, for whatever reason, recovery after a hard line, of scoping my next series of rocks, I find it better to focus on somthing, I personaly comptete while in compotition with music, so I listen to the song, I sing along, outloud, bob my head and rock out. I will focus on the ground, or look at my tire, just to look at it (I find my bikes the most beautiful pices of art), I watch traffic, look at pretty girls talk on their cell phones, people watch, just do anything too keep my mind away from what I am actually doing.
This also applies to other skills/tricks, I can do wheelies forever, rear wheel hop in a stationary spot, hop from the rear wheel then to the front wheel by throwing my body weight all foward. I can front wheel hop while up on my dront wheel.. all sorts of lil things I find myself doing while waiting at lights or in comps.
Have fun, and wear a helmet.