Misconception
If I sell it I will have a loss.
You already have a loss, it doesn't begin to be a loss when you sell it.
If you bought BAG at 100 you had the same thought about the loss at 99, then 98, 97....its now at 75 and you are still grimly holding on.
Misconception
BTC goes parabolic and now BAG is at 63, you still cant sell because you will lose money
When you bought BAG Bitcoin was only $2000, its now $3000 if you had sold 'at a loss' at 75 and just held BTC your dollar amount would be more than what you paid for BAG in the first place. BTC deficit yes - but dollar profit which is ultimately why you are trading.
Misconception
Other coins are flying but I haven't got any free cash to invest because it's all trapped in BAG.
Firstly who is trapping your cash in BAG - The Rothchilds or the Federal Reserve maybe? No...it's yourself.
Jump out of BAG and into FLY Coin, get a profit off FLY and then buy back your BAG that you're strangely attached to - its still going down anyway so you'll be able to hold even more BAG oO
Biggest Misconception
It's under my buy price so I cant trade it, I have to just hold it in my wallet.
Regardless how depressing it is to look at your BAG balance it is still an asset. Even a bearish moving chart has peaks and dips, you have to make BAG work for you, sell it on a peak and buy back on the low, rinse/repeat. If you play this right even at the bottom of a bear cycle you can have twice as much BAG - but that's BAG to TRADE not to HOLD geddit *}
If someone gave you a portfolio to increase the value of, but didn't tell you the buy in prices, thats what you would do, simples. Its exactly the same with BAG but you are blocked from doing this by pride and embarrassment.
Why you are holding BAG in the first place...
This is because you rushed into a trade on FOMO or on some shout out in a troll box, without properly researching and analysing the totally unknown quantity you are about to put your precious dollars into. You also didn't decide where to set a stop so you could exit if BAG did go down. Plan the trade then trade the plan.
Don't rely just on reading or following other peoples ideas/analysis
What makes you think they are right? Maybe its just what you want to hear. Learn to do analysis yourself, at least you'll be able to tell if someone else knows what they are talking about.
Before you buy a coin, especially large amounts
The first thing you should look at is the volume, look at the size of the buy orders compared with the sell orders. If you buy 2 BTC worth of BAG coin but there's only 0.3 btc worth of bids on the first 2 pages how are you going to sell if you want to get out quickly, what if other people are selling out at the same time? This is similar to being in the top storey of a building and suddenly realising all the floors are made of paper, you can fall thru 5 floors very quickly. Unless you have inside information or a solid tip forget it if there's no volume.
Learn some basic charting skills, you don't have to be Warren Buffet just learn to draw basic trend lines and understand a few signals like Mac D/Fibs/Moving Average, don't over complicate it but learn it properly so you genuinely understand how it works and what it means.
Research the fundamentals.
Google it. Check their market cap. Look at their website. Look at their Twitter page for news, you will get quicker and quicker at doing this.
Finally, yes of course, I write this from huge personal experience *}....may all your BAGs become helium balloons