Common Trading Mistakes: Running Away When Profiting, Holding On When Losing

As a rookie currently in this situation, this topic resonates deeply with me, and I want to share some insights.

I usually take my small profits quickly, as there have been many times when I turned a profit into a loss due to sudden market changes. It's not that this approach is wrong, but whether to hold or close a position should be judged based on the situation. If the trend is moving in a favorable direction, it might still be worth waiting a bit longer.

The issue of holding on when losing feels more like a psychological problem for me; I can't get past my own mental barriers. I need to convince myself to set stop losses, and when it reaches a certain point, I should cut my losses. Holding on too long is too risky, and one misstep could lead to a margin call. Additionally, being cautious about adding to losing positions is important; since you are already at a loss, adding more brings you closer to the liquidation line. I have tried many times; holding on isn't a problem in itself, but after adding to my position several times, if the trend still doesn't improve, I end up getting liquidated.