#止损策略 not cutting losses, and the habit of 'holding positions' is almost a universal behavior. When watching an interview with Soros on Central 2's finance program years ago, the host asked him what his greatest wisdom was. Soros immediately replied—cutting losses. The psychology behind not cutting losses comes from 'loss aversion': it is better to take a chance than to actively admit mistakes and face facts objectively. Psychological explanations indicate that the pain of loss is 2-3 times greater than the pleasure of equivalent gains.