Why can't I hold onto profitable trades?
Making money in trading has two core principles: first, cut losses to control risk; second, hold onto profitable trades to extract maximum market potential. The former is defense, while the latter is offense; offense can occasionally succeed, but defense must always be successful. If defense is poor, it’s like a bottomless bucket that can never be filled with water, and if the efficiency of offense is low, even with market movements, one cannot make substantial profits.
Why do we often fail to hold onto profitable trades and miss out on significant trends? Because smooth trending markets are too rare, many profitable trades cannot gain momentum. So even if trading skills and understanding are high, making money remains a convoluted process; this is precisely the dividing line for successful traders. The reason trend strategies are effective is that they often fail, leaving those with insufficient understanding and weak conviction stranded on the beach.
Six years of experience in the crypto world, sharing contract and spot trading insights for free. Feel free to click on my profile to consult; let's all improve together!