The root of people losing money lies in the abuse of the shared human "reflexivity".
For example, when the valuation is 10 yuan, you analyze that it will rise, and impulsively buy it. The next day the price reaches 15 yuan, and you wonder whether to sell or not? Maybe wait a bit longer. The day after, it drops to 13 yuan.
At this point, you think: If I didn't sell at 15 yuan, how can I sell at 13 yuan? What if it drops to 10 yuan? That would be worse! After a lot of indecision, you decide to wait a bit longer.
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The day after that, it drops to 9 yuan, and you think: It can't possibly not go back up; I've analyzed it thoroughly, and there are many positive factors. Later, it drops to 8 yuan, and you believe you can't sell; selling would mean a greater loss.
All human activities follow "reflexivity", and trading is no exception. You see the price, input it into your brain, take action, throw money in, the price changes, the new price is input into your brain, you take action again, the price changes again, and you have to input it into your brain, repeating this cycle endlessly.