The nature of people in trading is like this: when first trapped, everyone believes they can hold on, but as the floating losses grow and the holding time extends, thoughts change to: God bless, as long as this position can break even, I’ll run away quickly.
Bottom fishing and peak chasing in trading is an unprofitable business; most people, while bottom fishing or peak chasing, end up using the method of stubbornly holding without stopping losses, which ultimately leads to liquidation. The most important thing is that during the holding period, the trader's mental pressure is immense. Therefore, even if the market truly turns around after holding for a long time, they cannot make money because as soon as they break even, they will run.
This is normal human nature, so if you make a mistake, you must stop losses immediately; otherwise, if you don’t stop losses at the first moment, you won’t be able to cut the position at the second moment, and the floating losses will keep increasing. During this process, the trading mentality will undergo drastic changes, and when they hold on to the psychological and financial limits, the real top and bottom will emerge. So, when you cut the position, you’re either at the ceiling or at the floor; don’t think that the main force is just waiting for you, a single retail trader; in reality, a huge wave of retail traders have the same mindset. Even if they manage to hold on, as soon as they break even, they will rush to exit, and it is absolutely impossible to have a good mindset to wait for profits.
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