Market variables are too many, and even if we do our homework before each operation, it's hard to avoid going against the trend. Losses are inevitable, and the question is how to respond—some choose to hold on stubbornly, hoping for a market reversal. Among them, some do manage to turn losses around by holding on, but frankly, most end up deepening their losses and ultimately have to cut their losses and admit defeat.

First, what does it mean to hold a position stubbornly? Essentially, it means refusing to stop loss. The underlying psychology is mainly twofold—one is refusing to admit you were wrong, and the other is unwilling to cut losses. These are very human traits; after all, no one wants to admit they were wrong, even children dislike being exposed. So, the logic of holding a position appears: hold stubbornly until the reversal, then proudly say, "I was right, I beat the market." But the reality is far from romantic. Your success in holding a position is not because your decision was brilliant, but simply because the market happened to reverse. Whether you hold or not has almost no impact on the overall market trend. To put it plainly, it's a luck-driven mindset.

Therefore, the core issue is not whether holding a position is right or wrong, but whether—your holding is purely betting on a market reversal. Once it reverses, you win; if it doesn't, you lose everything.

How to break the deadlock? It's actually very simple: set a stop loss when entering the market, and don't move it once it's set. Stop losses are usually placed at key levels; this is not pessimism, but respect for the market's behavior.