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Embrace Losses: The Key to Smarter Trading

One of the toughest challenges in investing and trading is accepting losses. On platforms like Binance Square, you’ll often hear people say, “Hold on to this cryptocurrency! It’ll bounce back! Wait, it’ll go up again!” This sentiment is especially prevalent with hype coins like SHIB and FLOKI.

It may sound unpopular, but the truth must be said: Stop listening to the advice of those who urge you to hold on no matter what – they are often misguided. These people are trying to comfort themselves because they too lost money by buying too late during the market frenzy.

The belief that “if you don’t sell, you’ve lost money” is a dangerous fallacy. If you realize that an investment is underperforming and may continue to fall, it’s not rational to hold on to it just because you’ve already lost money. There are many other opportunities in the market, and it is unwise to miss these opportunities by leaving your capital in depreciating assets. It is like owning a property that can bring you a 10% annual return, but rejecting a new offer that can bring you a 30% return because of the loss of the first property. This approach prevents you from taking advantage of better opportunities and ultimately makes you lose money.

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