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A simple answer to the question: Why should you sell when...
The market declines and the price drops sharply, even if you are a loser?
It's not just about minimizing losses.
Example: John, a professional trader, and Peter, a novice trader, each have a balance of Bitcoin estimated at one million dollars... There was a decline in the price of Bitcoin, and it became clear that it would fall more and more...
1) - John: He had sold everything when the price of Bitcoin dropped seven percent (it didn’t matter if he made a profit or was a loser)
Peter: Hold on to hope and refuse to sell until the price rises again
2)- The price of Bitcoin continues to decline
John: He refused to buy, and his losses stopped at the seven percent he lost
Peter: He prays for Bitcoin to rise again, but Bitcoin falls further and reaches eighty percent of the price it was at, so Peter’s total losses were twenty percent.
3) Price return to rise
Peter: He was afraid of the false rises and did not buy until he was sure that the stability and rise were real, so he bought Bitcoin then.
John: He was still praying and was happy that his prayers were being fulfilled
4)- The price of Bitcoin increased ten percent:
John: He recovered his losses and made some profits
Peter: He is still a loser and has not recovered his losses
5)- The price returns to decline:
John: An investigator sells some profits and has overcome the crisis
Peter: He clings to hope, but his psychological and mental health is deteriorating and he is beginning to have a negative impact on his surroundings
The professional trader does not fear or hope $BTC
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