Why do we always lock in small profits but stubbornly hold onto losses? The longer you trade, the more you notice this ironic phenomenon: when we make a 10% profit, we’re scared of giving it back, but when we’re down 30%, we start researching long-term value. This isn’t patience—it’s human nature treating profits and losses completely differently. When we’re in profit, we fear losing the “money already in hand,” so we rush to cash out. When we’re in loss, selling means admitting we were wrong, so we keep looking for good news, tweaking our logic, and turning a failed trade into a so-called long-term investment. I used to do this too: when prices went up, even a slight pullback made me lock in profits. But when prices dropped, I’d go from talking about technical analysis to value discovery, and then to industry revolutions. The deeper I was stuck in a position, the stronger my “belief” became. Later, I realized that a lot of so-called belief is just a psychological painkiller we give ourselves when the losses are too big to face. Professional trading isn’t about mechanically setting stop-losses or take-profits. It’s about thinking clearly before entering a trade: What’s the logic behind this buy? What would invalidate that logic? How much loss am I willing to take? Otherwise, you’ll end up selling profits based on emotions and holding losses based on fantasies, creating the worst combination—small wins here and there, but one big loss wipes you out. What you really need to hold onto is the right logic, not a position that’s already wrong. Remember: A loss won’t magically turn into a value investment just because you refuse to admit it.