When you have to cut!
On the road of investment and trading, facing losses is always an unbearable thing. In the discussion area of the Binance community, we often see such calls: "Hold on to this digital currency! It will definitely make a comeback! If you don't believe it, just wait and see, its value will definitely rise!" Especially when those popular currencies that were once in the limelight (such as SHIB, FLOKI, etc.) experience fluctuations, this voice is even louder.
Perhaps my words will attract some criticism, but I still want to tell the truth: Don't trust those who blindly advocate perseverance, they actually know very little. They try to comfort you with words, and at the same time comfort themselves, because they are also deeply trapped in the quagmire of losses, and may have rushed into the market when the market was overheated. These people have to face the reality of losses after blindly following the trend.
Holding the mentality of "no loss if you don't sell" is a serious misunderstanding. If you realize that an investment is not good and its value may continue to decline, it is not wise to hold on to it just because you don't want to face the loss. In theory, timely stop loss is not equivalent to real loss.
Opportunities are everywhere in the market. If you are obsessed with a digital currency that will only depreciate and ignore other investment opportunities with greater potential, it is undoubtedly stupid.
It is like you hold an investment property with an annual return rate of 10%, and someone recommends you another property with an annual return rate of up to 30%, but you hesitate because of the loss of the previous property. This approach is neither wise nor meaningful, because you are missing out on huge profit opportunities and are actually losing money.
Therefore, be brave to admit your wrong decisions and take decisive action. Don't let those who advocate sticking to digital currencies influence your judgment. Once you determine that a certain digital currency has no potential, or worse, it will continue to depreciate in the near future, then sell it decisively.
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