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Still holding on and stubbornly refusing to sell, hoping for a big rebound someday? Many people think this way, but the result is often that the more they hold, the deeper they go.
Instead of blindly waiting, it's better to learn some truly effective strategies to get out of the position. The core principle is: assess the situation—if you should sell, sell; if you should hold, hold.
**Tip 1: Evaluate the Extent of Loss**
If you were just recently caught in a position and the loss is still acceptable, immediately take profit and exit once there's a rebound, or sell in parts to recover some of the principal. Don't put all your chips on a single comeback; market fluctuations are normal. Taking profits gradually is more reliable than trying to turn losses around all at once.
Conversely, if you're already deep in and feeling heartbroken, don't stubbornly hold on. You can choose to add some at support levels during a decline to lower your average holding cost. When a major trend arrives, the psychological pressure will be less, and you'll have more control over your actions.
**Tip 2: Analyze the Coin's Trend**
If the coin you hold (like $JTO, $GRT) is clearly in a downtrend, once the trend is confirmed, you should decisively cut losses. Don't hold onto false hopes or get caught up in gains and losses; delaying will only expand your losses. Sometimes, cutting losses promptly is the best defense.
If the coin price is oscillating within a range and has no clear direction, there's no need to rush to sell. Be patient and wait for it to move above the range. As long as the loss significantly decreases or turns positive, you should exit decisively. Greed often causes you to give back the profits you've already made.
If the coin you're holding is in an uptrend, there's no need to rush to cut losses—just hold steady. Time will help you get out of the position, and you might even make a good profit.
**Tip 3: Keep a Calm Mindset**
Getting caught in a position is normal in trading; what can truly ruin your account is reckless operation. Read the market situation clearly, know when to exit and when to continue holding. Don't let emotions dictate your judgment—staying alive is the only way to have a chance to turn things around.