Chives psychology: not selling when it's down, hoping for a rebound; not selling when it's up, fearing a loss on selling. Always holding on without letting go. This mindset is the easiest way to incur losses.
In trading, knowing how to buy is important because you need to pick the bottom to buy; knowing how to sell is also important because only by buying can you secure your profits or stop the losses.
Every time you open a position, setting take profit and stop loss is necessary, unless you are absolutely certain of winning.
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