Investment is a logic of pushing backwards. As the proverb says, be prepared for danger. The art of war says, "More planning leads to victory, less planning leads to defeat, let alone no planning!"
If I can make it clear that my plan is to never cut losses, then going back from this, the moment I enter the position, I will be responsible for this purchase and this position for life.
This forces me to carefully choose the target before building a position - the target that is worth never cutting losses and can never cut losses.
This also forces me to make the most detailed considerations, the most comprehensive plans, and the most complete preparations before building a position, before investing any capital.
Once the position is established, no matter what emergencies occur, it can be dealt with calmly.
As long as the fundamentals are not worse than when the position was established, or even better and stronger, then every pullback, every market panic, and every price cut are excellent opportunities to add positions when the price falls.
Professional investors and institutions never cut losses. Loss-making investments and temporarily unsuccessful portfolios, as long as the fundamentals do not deteriorate, just leave them there and wait for them to bloom.
Never sell at a loss, the book loss is just a floating loss, and will never become an actual loss.
Never sell at a loss, and you will always keep the right to future profits firmly in your hands when the fundamentals develop steadily.
Never sell at a loss, and you will never make blind mistakes and regret it.
Never sell at a loss, and you will never miss every market.
Never sell at a loss, it is a kind of wisdom.
This is the secret of never losing money.
