The worst trading strategy is relying on hope.
The pain experienced from a losing trade is twice as severe as the satisfaction from a comparable profit. This is why traders often hold onto losing trades, even removing their stop losses.
They do so to avoid the pain of closing a trade at a loss, consoling themselves with the hope that they can wait it out and turn the situation around.
At this point, the emotions driving the trader are not fear and greed, but rather fear and hope.
The result? In the majority of cases, this leads to a complete depletion of the deposit instead of the initially planned -1%.
How can this be avoided? The exit price of the trade must be determined before its initiation. Once the trade has been opened, the plan must be adhered to without alteration, with no exceptions. #BTCâ $BTC $TON
