To be a qualified player in the cryptocurrency world, you must first recognize a fact: holding on stubbornly when you incur losses and running away when you make a profit will only keep you as a player.
Psychologists say that the aversion to loss is much stronger than the enjoyment of gain; this psychological phenomenon is called loss aversion.
This mindset has caused a lot of trouble for people in trading.
When there are unrealized losses in our accounts, we often feel that this is a loss, unwilling to close the position, and instead, we increase our positions, hoping to recover the losses.
However, when there are unrealized gains in our accounts, we are afraid of losing the profits we've made, so we quickly take our profits and exit.
This impatient and short-sighted mindset will only lead to minimal gains while losses will accumulate more and more.
