ALARMING ALERT ‼️‼️‼️‼️‼️‼️
ACCEPT YOUR LOSSES
In investing and trading, one of the toughest things to do is to accept your losses. I often see posts on Binance Square from people saying, "Hold onto this crypto! It will bounce back! You'll see, it will go up again!"—especially concerning recently popularized coins like $SHIB and $FLOKI .
While some may criticize me for saying this, it's crucial to hear the truth: stop listening to those who urge you to hold indefinitely—they don't know any more than you do. These individuals are often trying to reassure themselves because they invested too late and are now at a loss. They entered these cryptos during euphoric, misguided movements and are now suffering the consequences.
The mindset of "Not sold, not lost" is a significant error. If you realize that one of your investments is bad and likely to keep decreasing in value, you shouldn't hold onto it just because you're currently at a loss. There are countless other opportunities in the market, and it's unwise to miss out on them by leaving your money in assets that are declining.
Think of it like this: if you own an investment property yielding 10% annually, and you're offered another property yielding 30%, would you refuse the new opportunity just because you're still at a loss on the first one? That would be foolish and counterproductive, depriving you of substantial gains. Accept that you made a bad decision and move on.
This post reflects my personal opinion.
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