How to determine if you've made a mistake in shorting—is it time to cut your losses? I have quite a bit of experience.

1. After you short, it doesn't fall; instead, it keeps rising.

2. It breaks through key levels but is pulled back, then surges on high volume.

3. Negative news doesn't cause a drop; positive news leads to a sharp rally.

4. The more you hold, the more you lose; adding to your position doesn't help.

5. Before the rise, there were signs of a trap or manipulative actions.

In summary:
If you short and it doesn't fall but instead rises, breaking through levels you thought wouldn't be surpassed, you've made a mistake—just cut your losses.