“You don’t lose until you sell” has to be the biggest myth across all the investing subreddits.

More and more, I see people propagating this lie, especially to newer investors. I get why people say it. It's like saying that the family dog “went to go live on a farm.” It's comforting. But it's also dangerously misleading.

It might not be the easiest thing to hear, but you lose when the price goes down, regardless of whether you sold or not.

Your portfolio is worth what you can get for it, NOT what you paid for it. And there is no such thing as a stock that owes you money. Please act accordingly and protect your capital.