Facing book losses, traders will inevitably suffer great pressure and fear.
"Experiencing pressure and fear is an important experience, so that you can avoid repeating the same mistakes. Fear is an emotion that often interferes with judgment. The same is true for intoxicating moods. You have to maintain a neutral position."
So, when you face losses, don't reject the experience of fear. But you have to use this kind of fear well, to prevent future losses, and don't sink deeper because of the fear of existing losses. When you check the new price, you shouldn't worry about the extent of the loss, or expect the situation to improve.
"Facing the new price, you have to ask yourself a question: If you haven't established a position, would you be willing to buy at this price? If the answer is negative, you should sell."
"You have to look at the open position very objectively, if you haven't established a position, are you willing to establish a position now? During the process of holding the open position, new information may affect the relevant expectations."
"But you have to be honest with yourself. This is a matter of mentality. When the position suffers a loss and new news appears, don't bargain with yourself, deceive yourself that the situation has changed, and the price may rise. In short, you have to be honest with yourself, this is the key."