Two of the most dangerous mindsets in crypto and most of you have at least one.
The most common one that i see every SPOT holder says "It's not a loss unless I sell."
Bro bought at $1. It's now $0.15. But he's calm because "it's still in my wallet." Meanwhile he's sitting on a 85% drawdown telling himself he's a long-term investor.
That's not conviction. That's just not being able to admit you were wrong. The market doesn't care about your entry price.
I don't know how people justify it, your unrealized loss is still very real money gone.
No 2: Opening perps with no stop loss.
Most of the traders i talk to they don't use stop loss their stop loss is their liquidation price.
"I'll close it when it comes back to my breakeven" Usually it doesn't come back and even if it does, It comes after Liquidating you. $XRP
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