I find your argument illogical. Past losses are not an intrinsic argument.
Think about a stock trade as example. You would hold the stock over alternative available investments if you expect better performance, even if the stock has underperformed in the past.
Now, different stock traders might come to different conclusions regarding future performance of course. Also,not every trader has the same alternative investment options, they have different time lines, different budgets, different risk profiles, different associates etc.
But the principle is always the same.