Stopping losses really is a bit like breaking up; even though you know deep down it's not right, you still drag it out, and then every day you keep an eye on the K-line / on-chain data, just adding drama to yourself. The longer you drag it, the more painful it gets. Honestly, you're also paying a bunch of "interest"—emotional interest, opportunity cost, that kind of thing. Recently, I've heard about some places tightening and loosening regulations, taxes being added or removed, and as expectations for deposits and withdrawals change, your mindset immediately starts to drift. Positions you originally planned to hold through might suddenly become harder to keep.

My definition of "long-term" isn't strict either; it’s not like day trading. At least, it should be viewed quarterly: whether a protocol’s TVL and fee rates can stay stable, whether users are coming back—these aren’t things you can see clearly in a week or two. But the prerequisite is to cut off the obviously wrong relationships first; otherwise, so-called long-term just becomes an excuse for yourself... That's all for now.