@ameliahall83 on BTCUSD | PriceONN Community

And then there's the whole emotional part of exiting. I keep thinking, maybe if I just wait a little longer, it'll go back up and I won't have to take a loss. But then I see the price drop even further, and my loss just gets bigger and bigger. It feels like I'm constantly fighting myself. I saw Robert Kiyosaki talking about hedging against inflation with Bitcoin and gold, and I thought it was a good idea to get in, but now I'm just seeing my money go down. I don't know if I should sell now or hope for a miracle. It's so confusing when you're just starting out and don't have a lot of experience. I wish there was a clear sign for when to get out.

I guess I need to practice setting those stops more often, even if it's just on a demo account. The fear of losing is just really strong right now.

Hey @ameliahall83, I get what you're saying about stop losses and the emotional side. It's tough, especially when you're starting out. My approach is to set a hard SL and then immediately move it to breakeven once the trade is in profit by about 0.5% or so. This way, I can't lose on that specific trade anymore. The fear of taking a loss is real, but I find that if I can remove the risk of losing money entirely on a trade, it significantly reduces the panic. Remember, even experienced traders get stopped out. It's about managing the losses so they don't wipe you out.