Stop-loss is not admitting defeat, but a way to survive to the next round.
The most painful thing about trading cryptocurrencies is not the losses, but knowing that you should stop-loss and yet still holding on out of wishful thinking, resulting in deeper losses. You tell yourself, "Just wait a bit longer, I’ll sell when it rebounds," but the market won’t change its trend because of your expectations. In the end, a small loss turns into a big loss, or even liquidation.
Why is it hard to let go of losses? Because human nature abhors loss; the feeling of cutting losses is like admitting failure. But the real failure is not losing money, but losing the chance to turn it around. The market won’t always give you a chance to recover, but it will certainly punish those who refuse to admit their mistakes.
Stop-loss is not admitting defeat but protecting your capital. The cryptocurrency market is not short of opportunities, but lacks the capital to survive until the opportunities arise. The discipline of top traders is not about winning every time, but about never hesitating when it’s time to cut losses.
Remember: the loss you can bear is the profit you can earn. Set your stop-loss and execute it strictly; don’t let emotions ruin your trading career.
Pay attention to: sui, link, uni, sol
