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ACCEPT YOUR LOSSES

In investing and trading, one very difficult thing to do is to accept your loss. I often read posts on Binance Square from people saying, "Hold onto this crypto!! It will bounce back!!! You'll see, it will go up again!!" Especially on shitcoins that have performed well recently ($SHIB, $FLOKI, etc.).

I know many will insult me in the comments, but you need to hear the truth: stop listening to those who tell you to hold, they know absolutely nothing. They are trying to reassure you to reassure themselves because they themselves are at a loss and have invested much, much, much too late. These people have lost money and entered cryptos like this following completely euphoric and stupid movements.

Thinking "Not sold, not lost" is a huge mistake: if you know that one of your investments is bad and will continue to decrease in value, you should not keep it just because you are at a loss on it and on principle, you don't sell at a loss.

There are many other opportunities in the market, it's completely stupid not to take advantage of them by leaving your money in cryptos that will only decline for 6 months. It's like having an investment property that earns you 10% per year, and you are offered another one that earns you 30% per year but you refuse it because you are still at a loss on the other one. It's completely stupid and makes no sense: you deprive yourself of huge opportunities and thus lose money.

So, accept that you made a bad decision, and stick to it until the end: don't listen to those who tell you to hold onto your crypto, if you believe it has no more potential or worse, that it will lose value in the short/medium term, sell it. Trust me, you will earn much more, even if you feel like you lost in the moment.

This post reflects only my opinion.

Thank you for reading.

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Livio P-V.