If you make a mistake, you need to correct it immediately. This applies to everyone.

Whether buying stocks or trading cryptocurrencies, the principles are the same. But the problem is—many people, once they make a wrong move, start gambling psychology taking over, insisting on waiting for it to bounce back before selling. And the result? Usually, they get trapped deeper and deeper.

Remember the LUNA market? When it dropped to $1, many asked me what to do. I said, well, $1 is already pretty good because this thing might very well become zero in the future. Instead of patiently waiting for it to rebound to $2, it’s better to admit defeat early, cut losses, and preserve capital to reallocate.

And those who keep gambling? You’ve seen the final outcome—completely wiped out.

The most expensive lesson in investing is: admit your mistakes when you should, don’t fight yourself.