I bought $UiPath (PATH.US)$ when the price was high thinking it would go higher. when I saw that the price came down by 12%, I decided to partially sell to cut loss. When I lost more than 15%, this was when I decided to sell off entirely to avoid more losses.
I should have sold off the position earlier, probably at 8% loss especially when opportunity cost of holding the stock is high. Stocks like Tesla helped me recovered my losses quickly.
When do you decide to cur losses?