Quote from: usekevin on Today at 12:08:03 PM

Quote from: palle11 on February 17, 2021, 01:05:20 PM

Some trades we take are in wrong direction but because we want to be hopeful that it will come back to profit, we allow it and it close against us. If we keep doing this, it is the exact opposite attitude of someone that wants to keep their initial capital.

There are steps you can take to reduce the loss before you lose every thing or it get to your stop loss and such is

1. Stop the trade: This is very good but difficult for many traders to do it but if you do that, you have potential loss that you have saved.

2. Use of stoploss all the time: This help your losses to be minimal.

3. Try to adjust your stoploss: You can do this if your trade is already in profit and you suspect that it is going back to your entry price, so you can take your stoploss to entry and all the order to run for profit or it stops at your entry.

If you find some coin which you had invested is not a potential one.Kindly get back your step.Take decision was a important one in the trading.Some less potential coin get drain all your money.So it's better to convert your coin to bitcoin or USDT ,when you come to know it's not a worthy for your money. Setting back is not a cowardness.Sometimes it's essential one.

I very much agree with you when in the past I was very obsessive about holding, I almost always maintain a maximum patience with the tokens I choose even if someone else has said it is not potential, even in leverage trading, the same mistakes come to me very often, always hold until that token is forced to liquidate and the account burns out hard on a very nice day. Setting stop loss and turning back, even accepting we were wrong is never the plan of the cowardly, cowardice is when we are wrong, but we continue to follow that path to prove we are not wrong