Sunk Cost Fallacy - SUNK COST FALLACY
Coins: PEPE • GNS • OGN
Real-life example:
• A trader lost 40% on PEPE
• Holds onto OGN despite the loss because they already invested
• Refuses to cut their losses, believing it will recover
• There is a better opportunity in GNS, but they ignore it
Psychological causes
> • Emotional attachment to past losses
> • Loss aversion
Steps to protect yourself
1- Accept the sunk cost: what you lost is gone
2- Ignore the past; evaluate only the future
3- Set a stop-loss order in advance
4- Calculate the opportunity cost: what could you gain instead?
#BinanceSquare #CryptoCommunity #writetoearn #Binance #bitcoin
$PEPE $OGN $GNS
Coins: PEPE • GNS • OGN
Real-life example:
• A trader lost 40% on PEPE
• Holds onto OGN despite the loss because they already invested
• Refuses to cut their losses, believing it will recover
• There is a better opportunity in GNS, but they ignore it
Psychological causes
> • Emotional attachment to past losses
> • Loss aversion
Steps to protect yourself
1- Accept the sunk cost: what you lost is gone
2- Ignore the past; evaluate only the future
3- Set a stop-loss order in advance
4- Calculate the opportunity cost: what could you gain instead?
#BinanceSquare #CryptoCommunity #writetoearn #Binance #bitcoin
$PEPE $OGN $GNS
