There are many reasons for not daring to cut losses in coin trading, some main reasons include:
1 Arrogance and overconfidence:
Many new investors often have the mistaken idea that they can make large profits in a short time, and therefore they do not want to cut losses for fear of losing the opportunity to profit.
They do not accurately assess risks and only trust their own opinion.
2 Lack of market analysis skills:
If you lack market analysis skills and do not have a complete understanding of the opportunities and risks in coin trading, you may not know when to cut your losses.
This can lead to holding positions for too long or holding too many positions without ensuring account safety.
3 Confused mentality:
Many investors tend to panic when the market reaches a price level below their entry level.
They are afraid of losing a lot of money and hope that the price will return to minimize the loss.
This can lead to holding positions for too long and not cutting losses, causing larger losses.
4 No trading plan:
If you don't have a clear and detailed trading plan, you won't know when to cut losses and when to take profits.
A trading plan helps you make decisions based on several criteria and ensures account security.
5 Accounts are too large:
If you trade more money than your account can handle, you may not want to cut your losses for fear of losing too much money.
This leads to holding orders for too long or holding too many positions without ensuring account safety.
