There is no doubt that using mind and benefiting from its experiences gained in analyzing the upward and downward movement in the cryptocurrency market, and in choosing the right time to trade, in addition to the experiences gained in cryptocurrency sites that support crypto games such as casinos, platforms and others, is necessary to achieve reasonable profits and avoid losses while trading or playing. However, the mind alone, with its experiences, memories, and ability to analyze, plan, and think, is not the only factor that affects the process of profit or loss, because there are other factors that affect the decision-making process, and they are entirely related to the human unconscious, and stemming from instincts, desires, emotions, passions, and psychological illnesses. They are factors that affect the ability to make the right decisions at the right time, leading to significant losses. While obsessive-compulsive disorder and gambling addiction are two factors that compel a person to engage in trading or gambling continuously and intensively without being able to stop despite repeated losses, in the hope of making high profits
Because fear is one of the most important of these factors, an internal psychological conflict arises in the trader or player due to the clash between the loss phobia and the overwhelming desire to win, and with the workings of the mind that compel him to use strict strategies to reach a satisfactory result, or the goal he seeks to achieve. Secondary factors, known in psychology as the pleasure and pain principles, also influence decision-making. The loss phobia amplifies the resulting pain, sometimes doubling the pleasure of profit. This drives traders to make decisions that undermine their investment strategies and prevent them from achieving profitability
Consequently, gamblers or traders under the influence of compulsive repetition refuse to stop playing or close downward trades, hoping for a win or a price rebound. This leads to the gradual loss of their capital. Conversely, the fear of loss drives the gambler or trader to exit winning trades prematurely. As soon as the panicked gambler or fearful trader achieves a small profit, they rush to close the trade for fear of losing even that meager gain. Thus, they constantly find themselves making small profits in exchange for substantial losses
While the loss phobia leads to a state of excessive hesitation, the gambler or trader refuses to enter any game or deal even if it meets the conditions of his strategy and responds to his previous experiences. This hesitation makes the player back out of playing at crucial moments, and it also makes the trader always enter the market too late, putting him in a high-risk area
The final effect of the loss phobia occurs when the loss actually happens. Sometimes the fear turns into an emotion embodied in anger, and the player or trader then enters a spiral of revenge to quickly recover what was lost, which leads to entering into ill-considered deals that double the size of his previous losses
Finally, it can be said that the negative impact caused by loss phobia makes the individual fall into repeated losses due to his interaction with other factors such as anxiety, psychological stress, nervousness, desires and emotions. However, overcoming the fear of loss does not mean eliminating these factors entirely, as they are essential for achieving the psychological balance that contributes to profitability. Rather, it means subjecting them to a strict system that helps in the proper management of risks. And as a result, Profit goes not only to the most technically intelligent, but also to the most psychologically balanced who accepts loss and sees it as a tax that must be paid to achieve victory. Therefore, one must adhere to stop-loss orders and implement plans and strategies because they constitute the protective factors that protect the gambler or trader from heavy and repeated losses