I found that unrealized losses really are more likely to cause insomnia than unrealized gains... Even though it's all "not sold yet," the mind automatically treats the loss as an already incurred wound, and the more I think about it, the more I want to wipe it out. As for unrealized gains? They are easier for me to categorize as "lucky, don't take it too seriously," and then just leave it there. Basically, it's more sensitive to pain and more dull to happiness.

Later, I started to understand the recent NFT royalty disputes: creators feel like losing even a penny is a loss, while traders feel that gaining an extra penny hampers liquidity. It's all about loss aversion pulling in opposite directions, just from different positions.

Now I force myself not to look at my holdings before sleep. If I do look, I only ask myself one question: if it goes to zero tomorrow, would I still feel like "I'm willing to gamble on this structure"? If not, I reduce some, if yes, I leave it be. Just like that for now.