"It always goes back up"
Bullshit. Hundreds of dead shitcoins in the graveyard prove that wrong.
New traders fall into this trap all the time... but plenty of experienced traders make the same mistake.
They buy into some coin, hoping to make a quick buck.
But then the coin starts to go the wrong way...
Losing money sucks, but you won't win every trade.
And anybody who says otherwise is full of 💩
The rational thing to do is to cut your losses and move on.
Instead…
So many traders hold on.
Hoping, praying that they can break even.
Hours turns into days...
weeks... Bleeding and bleeding...
Watching their hard earned money flow down the drain.
Often they're in denial.
Some have already written the money off as a total loss.
Lying to themselves when they say that doesn’t bother them.
But some cling on, desperately begging the market for pity.
"It can't drop much more"
"It'll bounce soon I'm sure"
The most ridiculous excuse of all is that you don't "lock in your losses" until you sell.
That denial used to be me.I couldn't admit I was wrong.
The evidence was dancing naked in front of me, but I refused to acknowledge the truth.
By the time I owned up to it…
I was emotionally beaten down - it didn't matter anymore.
It took a long time to get out of that dark place…
But when I did -
I promised myself that I would NEVER again let such a small thing turn into a massive bloodbath.
What do you need to promise yourself?