When we face losses;

Most people can stop the loss when it is a small loss within 20%;

However, once the loss exceeds 50%, we first default to adding positions, because we have already lost half, and subconsciously it is difficult to accept the stop loss. At this time, the idea of adding positions will override the thinking of stopping the loss;

This is why many people in the crypto world can lose 80% to 95%, almost to zero. It's not that they can't understand the trend, but after losing too much, they begin to resist the trend. When losses are too large, it is easy to stop loss at the lowest position, and they always develop a mentality of luck, ultimately leading to greater losses.