Cutting your losses is not really that hard what you need to do is to always watch the market and set a reasonable floor, some prefer to see the charts to see where the floor of the price could be, but some others prefer to set an absolute floor, like you are only willing to lose 10% in each trade you make, this is something a beginner will do but it is better than doing nothing and see how all your capital evaporates due to a dump in the price.