Last night, I clearly didn't hold many positions, but I still couldn't help but scroll a couple of times in bed, and that small red floating loss looked like it was glowing. When I was floating profit, I was quite calm, thinking "Anyway, I haven't taken the profit," but once I floated into a loss, my brain automatically started playing a movie: Did I buy at the point where others are unloading? Should I cut now instead of holding on... Honestly, the sting of a small loss is much worse than the thrill of a small gain.

Recently, some people interpret large on-chain transfers and unusual movements in exchange hot and cold wallets as "smart money," and I do look at that too, but don't treat every transaction as an oracle. Sometimes it's just moving, market rebalancing, forcing yourself into a "buy or sell" trap, which only makes your loss aversion worse. My old trick is still the same: first look at the distribution of holdings and where the cost line roughly is, if you can hold, don't let emotions push you out; if you can't hold, take a little profit and sleep. Face is not worth much; sleep is worth a lot.