Have you noticed that those who can't bear to cut losses often have problems not with money, but with their minds.

The market is very fair; it can forgive your wrong judgments, but it absolutely cannot tolerate your luck. I've seen too many people lose money, not because their stop-loss settings weren't precise enough, but because they knew the direction was wrong yet still said "wait a bit longer, it might rebound."

There was a friend of mine who kept holding on when his floating loss reached 10%, firmly insisting that the trend wasn't over. Three months later, his account had already lost 50%. By then, he had no courage to cut his losses, and he was trapped right before dawn. He told me, "Losses are losses," which on the surface sounds like he's taking responsibility for his judgment. But in reality? He's just avoiding failure, using real money to maintain his pitiful self-esteem. This is not trading at all.

If you often feel like you're about to falter at your stop-loss level, these three principles must be engraved in your mind:

**First,** Losses are costs; stop-loss is your ticket to stay in the market. If you're unwilling to pay this price, you'll only be kicked out.

**Second,** Luck is the number one enemy. When the thought of "waiting for a rebound" pops up, ask yourself: If I am currently out of the market, would I buy at this level? If the answer is no, then stop wasting time and cut your losses decisively.

**Third,** Use strict discipline to suppress emotions. Once you've set your stop-loss level, don't hesitate. After stopping loss, don't immediately open a new position. If you keep stopping losses, force yourself to rest. Put your emotions aside and let the rules decide.

Remember, stop-loss is never about admitting defeat. It’s about spending a little money to gain the qualification to keep playing. What's the difference between top traders and ordinary people? It's the moment of loss—the former immediately admits it, the latter pretends not to see.

The market does not pity the lucky. Next time you're hesitating, ask yourself honestly: Are you truly analyzing the market, or are you just telling yourself a story?